What is the total producer surplus for all four producers shown?
| Producer | Minimum Acceptable Product Price | Actual Product Price (Equilibrium Price) |
| Kimberly | $6 | $13 |
| Drake | 7 | 13 |
| Nicki | 9 | 13 |
| Victoria | 11 | 13 |
A. $24
B. $13
C. $6
D. $19
Ans: D. $19
Profit is equal to equillibrium price - Minimum Acceptable price
In case of Kimberley 7
In case of Drake 6
In case of Nikki 4
Victoria 2
Total Profit is $19
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A. monopolies. B. perfectly competitive. C. oligarchies. D. between monopolistically competitive and oligopolistic.
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A. $4,100. B. $4,500. C. $5,100. D. $5,500.
The total amount received from the sale of output is
A. price revenue. B. total revenue. C. marginal revenue. D. average revenue.