Business, 08.07.2021 18:40 smith3mgy

You are negotiating with your florist over the price of flowers for your wedding. You value the floral arrangements at $500. The florist's cost for the arrangement is $200. You finally settled on a price of $250. 1. If your negotiated price had been $350 instead of $250, the sum of consumer surplus and producer surplus would be:.
A. less than what would have accrued at the $250 price.
B. the same as what would have accrued at the $250 price.
C. more than what would have accrued at the $250 price.
D. none of the above is necessarily correct.
2. What are producer and consumer surplus?

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You are negotiating with your florist over the price of flowers for your wedding. You value the flor...