In a market diagram, producer surplus is shaped like a triangle bounded by the vertical axis, the demand curve, and the supply curve.

Name: In a market diagram, producer surplus is shaped like a triangle bounded by the vertical axis, the demand curve, and the supply curve.
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Quizplus · Accepted Answer

Producer surplus is actually the area above the supply curve and below the equilibrium price, not bounded by the demand curve.

In a Market Diagram, Producer Surplus Is Shaped Like a Triangle