Figure 7-11. On the graph below, Q represents the quantity of the good and P represents the good's price.

-Refer to Figure 7-11.At the equilibrium,producer surplus amounts to
A)$32.
B)$48.
C)$72.
D)$144.

Question

Figure 7-11. On the graph below, Q represents the quantity of the good and P represents the good's price.
 
-Refer to Figure 7-11.At the equilibrium,producer surplus amounts to
A)$32. 
B)$48. 
C)$72. 
D)$144.

Quizplus · Accepted Answer

Producer surplus is the area above the supply curve and below the equilibrium price. In this case, it amounts to $72.