### Find out amount of producer surplus generated in each of

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Determine the amount of producer surplus generated in each of the following situations.

(a) Dustin tries to sell his old cathode-ray TV on eBay. If he fails to sell it on eBay, he knows that his friend Raymond, who likes to tinker with electronics, will give him \$10 for it. Dustin manages to sell it on eBay for \$25.

(b) Al advertises his car for sale in the used-car section of Craigslist for \$3,000 or best offer, but he is willing to selling the car for any price above \$1,600.

i. The best offer he receives is \$1,475, which he declines.

ii. The best offer he receives is \$1,750, which he accepts.

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