Question: Connect Problem CP 0 4 - 1 4 ( algo ) Andy purchased a new drone last year for $ 1 , 5 0 0

Connect Problem CP 04-14(algo)
Andy purchased a new drone last year for $1,500. He no longer uses the drone and wants to sell it. He currently values the drone at $200. Suppose Jeff wants to purchase a drone. His maximum willingness to pay for a drone is $800.
Instructions: Enter your answers as a whole number.
Suppose Andy and Jeff agree on a price of $400 for the drone.
How much producer surplus will this transaction generate?
$
How much consumer surplus will this transaction generate?
$
What will be the total surplus generated from this transaction?
$

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