Q Question 1 0 / 16.67 pts Suppose you are a buyer, and you value the item being sold at $1.30. You negotiate with a seller and agree on a price of $1.10. Your "profit" is equal to Question 2 16.67 / 16.67 pts Now suppose you are a buyer and a benevolent dictator has agreed to pay $.80 of the price you negotiate with a seller. So, the $.80 goes from the dictator to the seller on your behalf. We will call this a buyer's subsidy. If you negotiate a price of $1.10, then how much will you need to pay the seller out of your own pocket? Question 3 16.67 / 16.67 pts Again, suppose you are a buyer and you value the item being sold at $1.30. Again, a benevolent dictator has agreed to pay $.80 of the price you negotiate with a seller. If you negotiate a price of $1.10 with the seller, what is your "profit"? $0 Question 4 16.67 / 16.67 pts Again, suppose you are a buyer and you value the item being sold at $1.30. Again, a benevolent dictator has agreed to pay $.80 of the price you negotiate with a seller. If you now negotiate a price of $1.60 with the seller, what is your "profit"? Question 5 16.67 / 16.67 pts Now suppose you are a seller, and it costs you $1 to produce the item being sold. You negotiate with a buyer and agree on a price of $1.10. Your "profit" is equal to

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