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3. Producer surplus for a group of sellers The following graph plots a supply curve (orange line)
for several sellers in the market for polaroid cameras in College Station, a university town in
Texas. Each seller has a single polaroid camera for sale. The market price of polaroid cameras is
given by the horizontal black line at $70. Each rectangle on the graph corresponds to a particular
seller in this market: blue (circle symbols) for Hubert, green (triangle symbols) for Kate, purple
(diamond symbols) for Manuel, tan (dash symbols) for Poornima, and orange (square symbols)
for Shen. (Note: The name labels are to the right of the corresponding segment on the supply
curve.) Use the rectangles to shade the areas representing producer surplus for each person who
is willing to sell a polaroid camera at a market price of $70. (Note: If a person will not sell a
polaroid camera at the market price, indicate this by leaving their rectangle in its original
position on the palette.) Based on the information on the preceding graph, you can tell that will
sell polaroid cameras at the given market price, and total producer surplus in this market will be
Suppose the market price of a polaroid camera increases to $110. On the following graph, use the
rectangles once again to shade the areas representing producer surplus for each person who is
willing to sell a polaroid camera at the new market price: blue (circle symbols) for Hubert, green
(triangle symbols) for Kate, purple (diamond symbols) for Manuel, tan (dash symbols) for
Poornima, and orange (square symbols) for Shen. (Note: If a person will not sell a polaroid
camera at the new market price, indicate this by leaving their rectangle in its original position on
the palette.) Based on the information in the second graph, when the market price of a polaroid
camera increases to $110, the number of sellers willing to sell a polaroid camera to , and total
producer surplus to

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3. Producer surplus for a group of sellers The following graph plots .pdf

  • 1. 3. Producer surplus for a group of sellers The following graph plots a supply curve (orange line) for several sellers in the market for polaroid cameras in College Station, a university town in Texas. Each seller has a single polaroid camera for sale. The market price of polaroid cameras is given by the horizontal black line at $70. Each rectangle on the graph corresponds to a particular seller in this market: blue (circle symbols) for Hubert, green (triangle symbols) for Kate, purple (diamond symbols) for Manuel, tan (dash symbols) for Poornima, and orange (square symbols) for Shen. (Note: The name labels are to the right of the corresponding segment on the supply curve.) Use the rectangles to shade the areas representing producer surplus for each person who is willing to sell a polaroid camera at a market price of $70. (Note: If a person will not sell a polaroid camera at the market price, indicate this by leaving their rectangle in its original position on the palette.) Based on the information on the preceding graph, you can tell that will sell polaroid cameras at the given market price, and total producer surplus in this market will be Suppose the market price of a polaroid camera increases to $110. On the following graph, use the rectangles once again to shade the areas representing producer surplus for each person who is willing to sell a polaroid camera at the new market price: blue (circle symbols) for Hubert, green (triangle symbols) for Kate, purple (diamond symbols) for Manuel, tan (dash symbols) for Poornima, and orange (square symbols) for Shen. (Note: If a person will not sell a polaroid camera at the new market price, indicate this by leaving their rectangle in its original position on the palette.) Based on the information in the second graph, when the market price of a polaroid camera increases to $110, the number of sellers willing to sell a polaroid camera to , and total producer surplus to