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Lauren1 Lauren1
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Posts: 4120
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9 years ago
When the Smiths were shopping for their present home, the asking price from the previous owner was $250,000.00. The Smiths had decided they would pay no more than $245,000.00 for the house. After negotiations, the Smiths actually purchased the house for $239,000.00. Therefore, the previous owner earned a producer surplus of
A) $250,000.00.
B) $11,000.00.
C) $5,000.00.
D) an amount unknown given the information in the question.
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MrDerecheMrDereche
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#1
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9 years ago
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Lauren1 Author
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#2
9 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
9 years ago
You're welcome!
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