Use the following to answer question:
Figure: PPV 
-(Figure: PPV) Use Figure: PPV.The figure shows the demand and marginal revenue for a pay-per-view football game on cable TV.Assume that the marginal cost and average cost are a constant $20.If the cable company is a monopoly,how much total surplus is there when the monopolist maximizes profit?
Definitions:
LIFO Inventory
A method of inventory valuation that assumes the last items placed in inventory are the first sold (Last In, First Out).
Absorption Costing
A costing method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.
Variable Costing
An accounting method in which variable manufacturing costs are included in product costs, while fixed manufacturing overhead is treated as an expense of the current period.
Net Operating Income
A financial metric that calculates a company's income after operating expenses are deducted, but before interest and taxes are subtracted.
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