The minimum price at which I was willing to sell my old TV was Rs 37,000. I quoted Rs 50,000 while selling it, but it sold for Rs 42,000. This transaction generated ____

A) Rs 5000 worth of consumer surplus
B) Rs 8000 worth of consumer surplus
C) Rs 5000 worth of producer surplus
D) Rs 8000 worth of producer surplus

View Answer

Option – C.

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Similar Questions

How long will it take for two pipes A and B to fill an empty cistern if they worked alternately for an hour each ? A. Working alone, Pipe A can fill the cistern in 40 hours B. Pipe B is one third as efficient as Pipe A

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