Jennifer buys a piece of costume jewelry for $33 for which she was willing to pay $42. The minimum acceptable price to the seller, Nathan, was $30. Jennifer experiences:
A. a consumer surplus of $12 and Nathan experiences a producer surplus of $3.
B. a producer surplus of $9 and Nathan experiences a consumer surplus of $3.
C. a consumer surplus of $9 and Nathan experiences a producer surplus of $3.
D. a producer surplus of $9 and Nathan experiences a producer surplus of $12.
Answer: C
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a. True b. False Indicate whether the statement is true or false
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Answer the following statement true (T) or false (F)
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