Suppose That a Customer's Willingness-To-Pay for a Product Is $1,480

question 289

Multiple Choice

Suppose that a customer's willingness-to-pay for a product is $1,480, and the seller's willingness-to-sell is $1,210. If the negotiated price is $1,479

• A) consumer surplus is nonexistent.
• B) consumer surplus is greater than producer surplus.
• C) producer surplus is nonexistent.
• D) producer surplus is greater than consumer surplus.

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