Let P represent price; let QS represent quantity supplied; and assume the equation of the supply curve is 
. If 80 units of the good are produced and sold, then producer surplus amounts to $1,200.
Definitions:
Social Dominance Theory
A theory proposing that societies are structured in hierarchical group systems, with some groups dominating or oppressing others.
Individuate
The process of developing a distinct, integrated personality or self, often associated with adolescent development and psychological differentiation from others.
System Justification
A theory suggesting that people have a psychological need to defend and justify the status quo even at the expense of personal or group interest.
Social Identity
The part of an individual's self-concept that derives from their membership in a social group, including the values and emotional significance attached to that membership.
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