(Solved): 14. Producer surplus for a group of sellers The following graph shows the supply curve for a grou ...

14. Producer surplus for a group of sellers The following graph shows the supply curve for a group of sellers in the U.S. market for digital cameras (orange line). Each seller has only one digital camera to sell. The market price of a digital camera is shown by the black horizontal line at \( \$ 175 \). Each rectangle you can place on the following graph corresponds to a particular seller in this market: blue (circle symbols) for Sam, green (triangle symbols) for Teresa, purple (diamond symbols) for Andrew, tan (dash symbols) for Beth, and orange (square symbols) for Darnell. Use the rectangles to shade the areas representing producer surplus for each person who is willing to sell a digital camera at a market price of \( \$ 175 \). (Note: If a person will not sell a digital camera at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) Based on the information on the previous graph, you can tell that will sell digital cameras at the given market price, and total producer surplus in this market will be Suppose the market price of a digital camera increases to \( \$ 275 \). On the following graph, use the rectangles once again to shade the areas representing producer surplus for each person whilling to sell a digital camera at the new market price: blue (circle symbols) for Sam, green (triangle symbols) for Teresa, purple (diamond symbols) for Andrew, tan (dash symbols) for Beth, and orange (square symbols) for Darnell. (Note: If a person will not sell a digital camera at the new market indicate this by leaving his or her rectangle in its original position on the palette.) Based on the information in the second graph, when the market price of a digital camera increases to \( \$ 275 \), the number selling to a digital camera