Jennifer buys a piece of costume jewelry for $30, for which she was willing to pay $35. The minimum acceptable price to the seller, Nathan, was $15. Jennifer experiences a
A) consumer surplus of $15, and Nathan experiences a producer surplus of $20.
B) producer surplus of $5, and Nathan experiences a consumer surplus of $15.
C) producer surplus of $65, and Nathan experiences a producer surplus of $50.
D) consumer surplus of $5, and Nathan experiences a producer surplus of $15.
E) consumer surplus of $5, and Nathan experiences a consumer surplus of $5.
Correct Answer:
Verified
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