The accompanying figure depicts a generalized downward-sloping market demand (D) curve for a product. It also shows the firm's relevant marginal revenue (MR) curve and marginal cost (MC) curve. Use this figure to answer the questions. 
-For a perfectly competitive market, calculate producer surplus.
A) $160
B) $120
C) $80
D) $40
E) $0
Correct Answer:
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