Figure 7-12

-Refer to Figure 7-12.When the price is P2,producer surplus is
A) A.
B) A+C.
C) A+B+C.
D) D+G.

Name: Figure 7-12 -Refer to Figure 7-12.When the price is P2,producer surplus is A) A. B) A+C. C) A+B+C. D) D+G.
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Question

Figure 7-12
 
-Refer to Figure 7-12.When the price is P2,producer surplus is
A) A. 
B) A+C. 
C) A+B+C. 
D) D+G.

Quizplus · Accepted Answer

Producer surplus is the area above the supply curve and below the price level, up to the quantity sold. At price P2, this area is represented by A+B+C.

Figure 7-12 -Refer to Figure 7-12.When the Price Is P2,producer Surplus Is