The value of total surplus if Sue buys a new bike is $200.
Total surplus is the sum of consumer surplus and producer surplus.
Consumer surplus is the difference between the value a consumer places on a good and the price of the good.
Consumer surplus = $400 - $300 = $100
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product or the cost of production of the product.
Producer surplus = $300 - $200 = $100
Total surplus = $100 + $100 = $200
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