1. Welfare analysis: Basic concepts Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or melcher. Consumer Producer Statement Surplus Surplus Neither Even though I was willing to pay up to $51 for a jersey sweater and even though the seller was willing to go as low as $45 in order to sell it, we couldn't reach a deal because the government O imposed a tax of $16 on the sale of sweaters. Even though I was wiling to pay up to $71 for a watch, I bought a watch for only $53. O O I sold a used textbook for $43, even though I was willing to go:as low as $36 in order to sell It. O O