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Incorrect Question 2 of 8 ncorrect EA Sapling Learning Joey, David, Tracy, and Surly own one track

Incorrect Question 2 of 8 ncorrect EA Sapling Learning Joey, David, Tracy, and Surly own one track bicycle apiece, and they've each modified to sell them as fixed- gear bikes or "fixies." Joey is willing to sell his bike at $100 or more. Likewise, David will sell his fixie for $150, Tracy at $200, and Surly for $350. Currently, all fixies sell for $250. On the graph below, move the gray Price line from $0 to the market price for fixies. Then, draw each person's producer surplus (PS) by moving the areas assigned to each seller. Place the seller with the largest producer surplus the furthest to the left. If a seller would not sell a bike, leave their shaded area where it is. Maintain the orientation of each area when creating the graph (i.e., the lower left corner of a shaded area should remain that area's lower left corner, and likewise for the other corners). Also pay attention to the quantity axis and make sure the shaded areas have a width of 1 The total producer surplus is 450 Number 400 300 350 300 Price 250 200 Incorrect Joey's cost of $100 is the lowest, so make sure 15 you place his PS bar furthest to the left. This 00 means the upper left and bottom left points should both be somewhere on the vertical axis. David Tracy Joey The producer surplus for an individual seller is 0.5 T 1.5 2 2.5 3.5 4 4.5 5 their cost subtracted from what value? That value is where the upper left point should go Quantity (number of fixies) A Previous Give Up & View Solution Try Again Next Exit