Figure 9.1.3
-Refer to Figure 9.1.3 above. If the market is in equilibrium, total consumer and producer surplus is:
A) $0.
B) $4.
C) $5.
D) $600.
E) $800.

Question

Figure 9.1.3
-Refer to Figure 9.1.3 above. If the market is in equilibrium, total consumer and producer surplus is:
A) $0. 
B) $4. 
C) $5. 
D) $600. 
E) $800.

Quizplus · Accepted Answer

In a market equilibrium, the total consumer and producer surplus is represented by the area between the demand and supply curves up to the equilibrium point. Without seeing Figure 9.1.3, we can't determine the exact figures, but typically, the answer would involve calculating the areas of triangles or rectangles in a supply and demand graph. The options given suggest a numerical value is expected, and among the options, $600 or $800 seem plausible for a market scenario. Given the typical structure of such questions, $600 is a common type of result for total surplus calculations, assuming a moderate-sized market.

Figure 9.1.3 -Refer to Figure 9.1.3 Above. If the Market Is in Is