What is the value of total surplus if sue buys a new bike

Reference no: EM131098517

Suppose that the price of a new bicycle is $300. Sue values a new bicycle at $400. It costs $200 for the seller to produce the new bicycle what is the value of total surplus if Sue buys a new bike?

a. $100

b. $200

c. $300

d. $400

e. $500

Reference no: EM131098517

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