Business, 15.10.2020 08:01 jaeana

Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither. a. Even though I was willing to pay up to $185 for a used laptop, I bought a used laptop for only $175.
b. I sold a watch for $61, even though I was willing to go as low as $55 in order to sell it.
c. Even though I was willing to pay up to $68 for a used textbook and even though the seller was willing to go as low as $64 in order to sell it, we couldn't reach a deal because the government imposed a price floor of $73 on the sale of textbooks.

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Identify whether each of the following statements best illustrates the concept of consumer surplus,...