Attempts Average / 1 C 1. Welfare analysis: Basic concepts Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither. Consumer Producer Statement Surplus Surplus Neither I sold a jersey sweater for $20 on eBay last week. This week, someone offered me $43 O O O for it. Even though I was willing to pay up to $68 for a watch, I bought a watch for only $58. O O O I sold a used textbook for $45, even though I was willing to go as low as $37 in order to O O O sell it. Grade It Now Save & Continue Continue without saving