In the figure below,the firm's total producer surplus,if it is producing 18 units of output and receiving a price of $36 per unit,is ________.
Definitions:
Price
The amount of money required to purchase a good or service, often determined by factors such as supply and demand, production costs, and market competition.
Diagram
A simplified drawing showing the appearance, structure, or workings of something, often used for explanation purposes.
Economic Profit
The remaining profit once every cost, including those that are explicit and those that are implicit, is deducted from the total revenue.
Market Price
The current price at which a good or service can be bought or sold in a marketplace, determined by the forces of supply and demand.
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