Amanda buys a ruby for $330 for which she was willing to pay $340. The minimum acceptable price to the seller, Tony, was $140. Tony experiences a

Question

BlackTom AI · Accepted Answer

To evaluate this scenario, I’ll lay out what each party gains from the transaction and then inspect each answer choice.
First, compute Amanda's consumer surplus: she was willing to pay up to 340 but paid 330, so her gain is 340 − 330 = 10. This is a small positive amount, reflecting the savings she enjoys.
Next, determine Tony's producer surplus: he would have been willing to sell for as low as 140, but he actually received 330, so his gain is 330 − 140 = 190. This represents the extra benefit Tony gets above his minimum acceptable price.
Now let’s examine the options one by one:
- Option A: "producer surplus of $470 and Amanda experiences a consumer surplus of $670." These numbers are far too large given the calculated surpluses (190 and 10). This would imply unrealistically high gains for both parties and contradicts the agreed prices, so this option is incorrect.
- Option B: "consumer surplus of $10 and Amanda experiences a producer surplus of $190." This mixes up the roles: consumer surplus belongs to the buyer (Amanda), which is 10, but producer surplus is the seller’s gain (Tony), which is 190. However, the wording incorrectly assigns producer surplus to Amanda, making this statement inaccurate.
- Option C: "producer surplus of $190 and Amanda experiences a consumer surplus of $10." This aligns with the calculations: Tony (seller) gains 190, Amanda (buyer) gains 10. This option matches the correct distribution of surpluses.
- Option D: "consumer surplus of $670 and Amanda experiences a producer surplus of $470." These figures are not supported by the transaction details at all; they imply absurdly large surpluses not tied to the actual prices, so this option is clearly incorrect.
In summary, the only option that faithfully reflects who gains what from the transaction and by how much is the one stating a producer surplus of 190 for the seller and a consumer surplus of 10 for the buyer, while all other choices misstate the amounts or misattribute the gains.

Amanda buys a ruby for $330 for which she was willing to pay $340. The minimum acceptable price to the seller, Tony, was $140. Tony experiences a单项选择题

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