Table 3.5 -Refer to Table 3.5.The Equations Above Describe the Demand and the Demand

question 281

Multiple Choice

Table 3.5
-Refer to Table 3.5.The equations above describe the demand and supply for Aunt Maud's Premium Hand Lotion.The equilibrium price and quantity for Aunt Maud's lotion are $20 and 30 thousand units. What is the value of producer surplus?

• A)$600 thousand
• B)$300 thousand
• C)$150 thousand
• D)$30 thousand

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