d Finder File Edit View Go Window Help g & ThuMar 28 2:48PM @ ng.cengage.com TP 72 CENGAGE | MINDTAP Q search this course Module Four Quiz o X 8 . Consumer and Producer Surplus PROFILE Suppose Alex is the only seller in the market for bottled water and Raphael is the only buyer. The following lists show the value Raphael places on a bottle of water and the cost Alex incurs to produce each bottle of water: ORDERS Raphael's Value Alex's Costs RENTALS Value of first bottle: $9 Cost of first bottle: $1 Value of second bottle: $7 Cost of second bottle: $4 COURSES v Value of third bottle: $4 Cost of third bottle: $7 Value of fourth bottle: $1 Cost of fourth bottle: $9 Study tools The following table shows their respective supply and demand schedules: College Success Tips Price Quantity Demanded Quantity Supplied Career Success Tips $1 or less 4 0 $1to $4 $7 to $9 8 $4 to $7 2 il More than $9 0 Finder File Edit View Go Window Help O Q Thu Mar 28 2:48 PM