(Figure: Willingness to Accept 0) The price is $30. In the table, what is the total producer surplus?
$\begin{array}{|l|l|}
\hline \text { Seller } & \text { Willingness to Accept } \
\hline \text { Mark } & \$ 10 \
\hline \text { Hank } & \$ 15 \
\hline \text { Andy } & \$ 21 \
\hline
\end{array}$

Question

(Figure: Willingness to Accept 0) The price is $30. In the table, what is the total producer surplus?
 $\begin{array}{|l|l|}
\hline \text { Seller } & \text { Willingness to Accept } \
\hline \text { Mark } & \$ 10 \
\hline \text { Hank } & \$ 15 \
\hline \text { Andy } & \$ 21 \
\hline
\end{array}$

Quizplus · Accepted Answer

Producer surplus is the difference between what producers are willing to accept for a good versus what they actually receive. Here, Mark's surplus is $20 ($30 - $10), Hank's is $15 ($30 - $15), and Andy's is $9 ($30 - $21), totaling $44.

(Figure: Willingness to Accept 0) the Price Is $30 A) $10 B) $30 C) $44 D) $46

(Figure: Willingness to Accept 0) the Price Is $30 A) $10
B) $30
C) $44
D) $46