Multiple Choice
If you are willing to sell your old bicycle for $30, but someone offers you $40 for it, the results of the transaction would yield
A) $10 worth of producer surplus and unknown consumer surplus.
B) $10 worth of consumer surplus and unknown producer surplus.
C) $30 worth of consumer surplus and $10 worth of producer surplus.
D) $30 worth of producer surplus and $10 worth of consumer surplus.
Correct Answer:
Verified
Correct Answer:
Verified
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