(Solved): 6. Producer surplus and price changes The following graph plots a supply curve (orange line) for a ...

6. Producer surplus and price changes The following graph plots a supply curve (orange line) for a group of recent graduates looking to sell used decision science textbooks. Each seller has only a single used textbook available for sale. Think of each rectangular area beneath the supply curve as the "cost, or minimum price that each seller Is willing to accept. Assume that anyone who has a cost that equals the market price is willing to sell their used textbook. Region $$X$$ (the purple shaded area) represents total producer surplus when the market price is equal to area) represents when the market price. In the following table, indicate which statersents are true or false based on the information provided on the previous graph.