Answer:
c. $0
Explanation:
As the producer surplus is the difference between theminimum price the selles accept to sale and the market price of the good.
In this case the ipod is worth $15 while Jame's price is $20 Thus there is no surplus James mostly won't even sale his ipod.
Answer:
c. $0
Explanation:
Producer surplus is the difference between the amount a producer (in this case James) is willing to sell a product and the market price. In this case the market price is higher than the price James is willing to sell. Therefore the producer surplus is zero.
