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Business, 15.04.2020 22:47 DragonLovely

Welfare analysis: Basic concepts Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither. Statement Consumer Surplus Producer Surplus Neither I sold a used laptop for $139, even though I was willing to go as low as $130 in order to sell it. Even though I was willing to pay up to $147 for a watch and even though the seller was willing to go as low as $137 in order to sell it, we couldn't reach a deal because the government imposed a tax of $16 on the sale of watches. Even though I was willing to pay up to $47 for a jersey sweater, I bought a jersey sweater for only $39.

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