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ECON2433-202-Spring 2017
Emily Shaver
Homework: HW-B4
Score: 0 of 1 pt
2 of 10 (1 complete)
End of Chapter 1.12
The figure to the right illustrates the market for seats at a concert, which will be held in a local stadium that seats
10,000 people.
What is the value of producer surplus in this market?
$\boxed{70,000}$ (Enter your response as an integer.)
How does it differ from the producer surplus in the markets you have studied up to this point? Unlike in most
other examples, in this case,
A. the firm's cost of production equals producer surplus.
B. the firm's producer surplus is equal to consumer surplus.
C. the firm's total revenue equals producer surplus.
D. the firm's producer surplus is a positive amount.
E. the firm's total revenue is greater than producer surplus.
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Price
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