Book cost Graph

John is looking for an Economic book, because he is not very happy with his accumulated grade in this course. As he has a limited budget, he is willing to pay no more than $ 50. a. He goes to the local Library and looked at the place where some books were sold. He found an economic book for "dummies" at $ 20. Which would be his consumer surplus in the case he buys it? b. As he considered the book at the Library too basic, he explored used books at Internet and found a popular online bookstore that was selling a good textbook at $ 80. What do you think he did? NOTE. Before answering watch videos. VIDEOS Consumer Surplus Kahn. Consumer Surplus Introduction. http://youtu.be/_6kwhF6hoqQ Total Consumer Surplus as area: http://youtu.be/RBUBIRtn0xQ Producer Surplus Kahn Producer Surplus. http://youtu.be/-V-Y5klejSg Deadweight Loss How to calculate deadweight loss. https://youtu.be/kF1c8ujpTYY Kahn. Rent Control & Deadweight Loss. http://youtu.be/ZrNKHCCVfB8 Kahn. Taxation & Deadweight Loss. http://youtu.be/NuLlNAdrom4

Must provide references and be answered in at least 150 words