Part 1 (1 point) See Hint PRACTICE WHAT YOU KNOW Shana decides to buy a...
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Part 1 (1 point) See Hint PRACTICE WHAT YOU KNOW Shana decides to buy a pair of used ripped jeans for $95.00. She was willing to pay $120.00. When her friend Tanya sees the jeans, she loves them and thinks they are worth $160.00. So she offers Shana $125.00 for the jeans, and Shana accepts. Shana and Tanya are both thrilled with the exchange The total surplus received by both Shana and Tanya is $ Part 2 (1 point) See Hint Suppose that Shana purchased the jeans from Marie's Boutique. Marie and other boutique owners in town are upset that customers like Shana buy jeans at their stores, and then resell them for a higher price. Marie and the other owners convince the city government to pass a law preventing such resale. Assuming the law is successful, how much surplus is lost if Shana cannot sell the jeans to Tanya? $
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