Chapter 9R, Problem 11MCQ

To determine

The result, if a person is willing to sell her used calculator for $20 and her friend is willing to pay $90 for a used calculator and they both agreed to trade at $50.

Explanation of Solution

Jill’s individual producer surplus is $30 because she was ready to sell the used product for $20 but she actually got $50 and therefore, she had a surplus of $30.

Here, the correct option is c.

Economics Concept Introduction

Introduction:

Any excess in production, earning, or the supply of goods is called surplus which is more than the need.