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The following graph shows the supply curve for a group of students looking to sell used smartphones. Each student has only one used smartphone to
The following graph shows the supply curve for a group of students looking to sell used smartphones. Each student has only one used smartphone to sell. Each rectangular segment under the supply curve represents the "cost," or minimum acceptable price, for one student. Assume that anyone who has a cost just equal to the market price is willing to sell his or her used smartphone. 180 + 150 Dina 120 Charles PRICE (Dollars per used smartphone) 90 B Ana 60 Yakov Simone 30 Rajiv 1 + 1 0 5 5 6 2 3 4 QUANTITY (Used smartphones) while Region B (the grey shaded area) Region A (the purple shaded area) represents the total producer surplus when the market price is $ represents when the market price In the following table, indicate which statements are true or false based on the information provided on the previous graph. Statement True False Assuming each student receives a positive surplus, Rajiv will always receive more producer surplus than Simone. Producer surplus is larger when the price is $105 than when it is $75. In order for Ana to earn a producer surplus of exactly $45 from selling a used smartphone, the market price needs to be $
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