The dollar has appreciated in value.
Amanda buys a ruby for dollar 330.
A consumer surplus of 10 and tony experiences a producer surplus of 190.
If the demand curve reflects consumers full willingness to pay and the supply curve reflects all costs of production then.
Amanda experiences and tony experiences.
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The minimum acceptable price to the seller tony was 140.
Amanda buys a ruby for 330 for which she was willing to pay 340.
The minimum acceptable price to the seller tony was 140.
A consumer surplus of 10 a producer surplus of 190.
Amanda buys a ruby for 330 for which she was willing to pay 340.
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A consumer surplus of 10 and tony experiences a producer surplus of 190.
The minimum acceptable price to the seller tony was 140.
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Amanda buys a ruby for 330 for which she was willing to pay 340.
The minimum acceptable price to the seller tony was 140.
Amanda experiences a producer surplus of 200 and tony a consumer surplus of 10.
A consumer surplus of 10 and tony experiences a producer surplus of 190.
The minimum acceptable price to the seller tony was 140.
Marginal utility from the last dollar spent on each product is the same.
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A producer surplus of 200 and tony experiences a consumer surplus of 10.
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Amanda buys a ruby for 330 for which she was willing to pay 340.