Question

Jennifer buys a piece of costume jewelry for $44 for which she was willing to pay $52. The minimum acceptable price to the seller, Nathan, was $40. Jennifer experiences:
A) a consumer surplus of $14 and Nathan experiences a producer surplus of $4.
B) a producer surplus of $8 and Nathan experiences a consumer surplus of $4.
C) a consumer surplus of $8 and Nathan experiences a producer surplus of $4.
D) a producer surplus of $8 and Nathan experiences a producer surplus of $12.