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