-The above figure shows the market for steel ingots.If the market is competitive,then the private producer surplus is
A) $2,500.
B) $5,000.
C) $2,000.
D) $3,000.

Question

-The above figure shows the market for steel ingots.If the market is competitive,then the private producer surplus is
A) $2,500. 
B) $5,000. 
C) $2,000. 
D) $3,000.

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 directly from the question. However, based on the options provided and typical market diagrams, the producer surplus is often represented by a triangular or trapezoidal area on such diagrams. The correct answer would depend on specific values given in the figure, such as the equilibrium price and quantity, and the cost of production as depicted by the supply curve.

-The Above Figure Shows the Market for Steel Ingots