Producer surplus, placing the seller with largest producer

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Reference no: EM13834174

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 create a bar graph by drawing each person\'s producer surplus (PS) by moving the areas assigned to each seller. Be sure to sort by the size of producer surplus, placing the seller with the largest producer surplus the furthest to the left. If a seller does not have a producer surplus at all, leave their shaded bar where it is. Maintain the orientation of each bar when creating the graph (i.e., the lower left corner of a bar should remain that bar\'s lower left corner, and likewise for the other corners).

Reference no: EM13834174

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