Figure 9.1.1
-Refer to Figure 9.1.1 above. If the market is in equilibrium, total producer surplus is:
A) $30.
B) $70.
C) $400.
D) $800.
E) $1200.

Question

Figure 9.1.1
-Refer to Figure 9.1.1 above. If the market is in equilibrium, total producer surplus is:
A) $30. 
B) $70. 
C) $400. 
D) $800. 
E) $1200.

Quizplus · Accepted Answer

Producer surplus is the area above the supply curve and below the equilibrium price. Without seeing the figure, the correct answer cannot be determined based on the information given. However, based on common economic principles, producer surplus is calculated as the area of a triangle or a trapezoid, depending on the shape of the supply curve. The options given suggest a specific numerical answer is expected, but without the figure, the calculation cannot be completed. The choice provided as correct (C) is a placeholder to demonstrate how an answer might be formatted.

Figure 9.1.1 -Refer to Figure 9.1.1 Above. If the Market Is in Is