Use the following figure to answer the questions : Figure 10-2 :shows the intersection of demand and supply at the price P 2 and quantity Q 2 in a competitive market.
-Refer to Figure 10-2.What is the producer surplus at the equilibrium level of output?
A)f + g + j
B)f + g + h + i + j
C)f + g
D)i + h + g + f

Question

Use the following figure to answer the questions : Figure 10-2 :shows the intersection of demand and supply at the price P 2 and quantity Q 2 in a competitive market.  
-Refer to Figure 10-2.What is the producer surplus at the equilibrium level of output?
A)f + g + j 
B)f + g + h + i + j 
C)f + g 
D)i + h + g + f

Quizplus · Accepted Answer

Producer surplus is the area above the supply curve but below the equilibrium price. In this case, it includes areas f, g, and j.

Use the Following Figure to Answer the Questions : Figure