Ask Question
BusinessBusiness
9 March, 22:27

James is willing to sell his ipod for $20, and the going price on ebay is $15. Given this information, what would be the producer surplus for James? a. $20 b. $15 c. $0 o d.$5 $5

+3
Answers (2)
  1. 10 March, 00:31
    0
    c. $0

    Explanation:

    As the producer surplus is the difference between theminimum price the selles accept to sale and the market price of the good.

    In this case the ipod is worth $15 while Jame's price is $20 Thus there is no surplus James mostly won't even sale his ipod.
  2. 10 March, 01:31
    0
    c. $0

    Explanation:

    Producer surplus is the difference between the amount a producer (in this case James) is willing to sell a product and the market price. In this case the market price is higher than the price James is willing to sell. Therefore the producer surplus is zero.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “James is willing to sell his ipod for $20, and the going price on ebay is $15. Given this information, what would be the producer surplus ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Income Statement The revenues and expenses of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees earned $900,000 Office expense 300,000 Miscellaneous expense 15,000 Wages expense 450,000 Prepare an income statement for the year
Answers (1)
Which management function involves evaluating work performed by other employees? A. controlling B. planning C. organizing D. leading
Answers (1)
How are dividing fractions used in real life?
Answers (1)
When might you expect a manager to offer a gentle reminder about hand washing?
Answers (1)
The chief executive officer and chief financial officer of the Blue Willow Food Service Corporation must personally certify that the company's financial statements are accurate. This is an example of corporate governance in action. a. True b. False
Answers (1)
New Questions in Business
One benefit to a farmer using crops modified with herbicide resistance is that: select one: a. reduced biodiversity always lowers the crop's susceptibility to disease. b. seeds are cheaper than conventional hybrids and can be saved every year. c.
Answers (1)
Mrp works best if the inventory items have dependent demand. True or false?
Answers (1)
Stock dividends Select one: a. Have the same effects on financial statements as cash dividends. b. Are similar to stock splits in that they do not change the fundamental position of current shareholders. c. Must be accompanied by cash dividends. d.
Answers (1)
What is the current u. s. population? what is the current world population? considering those numbers, do you think the united states is in a population crisis? do we have enough land and resources to support a continuous increase in population?
Answers (1)
Distinguish between individual and market demand for a commodity
Answers (1)
Home » Business » James is willing to sell his ipod for $20, and the going price on ebay is $15. Given this information, what would be the producer surplus for James? a. $20 b. $15 c. $0 o d.$5 $5
Sign Up Forgot Password?