ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Jennifer buys a piece of costume jewelry for $33 for which she was willing to pay $42. The minimum acceptable price to the seller, Nathan, was $30. Jennifer experiences ____
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A consumer surplus of $12 and Nathan experiences a producer surplus of $3
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A producer surplus of $9 and Nathan experiences a consumer surplus of $3
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A consumer surplus of $9 and Nathan experiences a producer surplus of $3
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A producer surplus of $9 and Nathan experiences a consumer surplus of $12
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Explanation:
Detailed explanation-1: -Jennifer buys a piece of costume jewelry for $33 for which she was willing to pay $42. The minimum acceptable price to the seller, Nathan, was $30. Jennifer experiences: a consumer surplus of $9 and Nathan experiences a producer surplus of $3.
There is 1 question to complete.