question 3 of 13 > nicole has a hockey puck from the 2010 winter olympic games and puts it up for sale on…

question 3 of 13 > nicole has a hockey puck from the 2010 winter olympic games and puts it up for sale on ebay. she will only sell the puck if the winning bid is greater than or equal to $500. after bidding closes, the last bid stands at $500. nicoles surplus: $ nicole has a producer surplus. consumer surplus.

question 3 of 13 > nicole has a hockey puck from the 2010 winter olympic games and puts it up for sale on ebay. she will only sell the puck if the winning bid is greater than or equal to $500. after bidding closes, the last bid stands at $500. nicoles surplus: $ nicole has a producer surplus. consumer surplus.

Answer

Explanation:

Step1: Determine reservation price

Nicole's minimum acceptable price is $500.

Step2: Calculate producer surplus

Producer surplus = Price received - Reservation price = $500 - $500 = $0.

Step3: Identify surplus type

Nicole is the seller, so it's producer surplus.

Answer:

0, producer surplus