Use the following to answer question: 
-(Table: Producer Surplus and Phantom Tickets) The table Producer Surplus and Phantom Tickets shows the minimum price at which each of the students is willing to sell a ticket to Phantom of the Opera.Assume that each student has only one ticket to sell.If the price for Phantom tickets is $140 and there is no other market for tickets,total producer surplus for these five students is:
Definitions:
Merchandise
Goods that are purchased, held, and resold by a business in the normal course of its operations.
Discount Offered
A reduction applied to the regular price of goods or services as a form of promotion or negotiation.
Sales Discount
A reduction in the price of goods or services offered to customers, usually as an incentive for prompt payment.
Credit Sales
Credit sales are transactions where the customer purchases goods or services with the agreement to pay at a later date, typically invoiced by the seller.
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