Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither. Statement Consumer Surplus Producer Surplus Neither Even though I was willing to pay up to $70 for a used textbook and even though the seller was willing to go as low as $60 in order to sell it, we couldn't reach a deal because the government imposed a tax of $19 on the sale of textbooks. I sold a watch for $64, even though I was willing to go as low as $54 in order to sell it. Even though I was willing to pay up to $134 for a used laptop, I bought a used laptop for only $125. Grade It Now Save

1. demand terminology complete the following table by selecting the term that matches each definition. definition quantity demanded demand curve demand schedule law of demand a graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices the amount of a good that buyers are willing and able to purchase at a given price a table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices the claim that, with other things being equal, the quantity demanded of a good falls when the price of that good rises apply your understanding of the previous key terms by completing the following scenario with the appropriate terminology. your coworker becky is really concerned about a project that she has just been assigned. she is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report. if becky's boss is interested in a graphical representation of the relationship between the pric