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Figure: Determining Surplus 3
-(Figure: Determining Surplus 3)In the graph,how much is producer surplus?

Name: Use the following to answer questions Figure: Determining Surplus 3 -(Figure: Determining Surplus 3)In the graph,how much is producer surplus?
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Question

Use the following to answer questions 
Figure: Determining Surplus 3 
-(Figure: Determining Surplus 3)In the graph,how much is producer surplus?

Quizplus · Accepted Answer

Producer surplus is the area above the supply curve and below the price level. In this graph, it is calculated as the area of the triangle formed by the price level, the supply curve, and the vertical axis.

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