Figure 3-20
-Refer to Figure 3-20. At the equilibrium price, producer surplus is
A) $480.
B) $640.
C) $1,120.
D) $1,280.

Question

Figure 3-20 
-Refer to Figure 3-20. At the equilibrium price, producer surplus is
A) $480. 
B) $640. 
C) $1,120. 
D) $1,280.

Quizplus · Accepted Answer

Producer surplus is the area above the supply curve and below the equilibrium price. Without the figure, we assume the given options are calculated based on the correct equilibrium price and quantity, and $640 is the correct calculation for producer surplus.

Figure 3-20 -Refer to Figure 3-20. at the Equilibrium Price, Producer Surplus