A Consumer Values a House at $525,000 and a Producer

question 28

Multiple Choice

A consumer values a house at $525,000 and a producer values the same house at $485,000.If the transaction is completed at $510,000,the transaction will generate:

• A)​No surplus
• B)$25,000 worth of seller surplus and unknown amount of buyer surplus
• C)$15,000 worth of buyer surplus and $25,000 of seller surplus
• D)​$25,000 worth of buyer surplus and unknown amount of seller surplus

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