According to the Graph Shown,producer Surplus Is

question 32

Multiple Choice

According to the graph shown,producer surplus is:

• A) $36.
• B) $48.
• C) $120.
• D) None of these.

---

Definitions:

Herfindahl Index

A measure of market concentration used to evaluate the level of competition within an industry, calculated by summing the squares of the market shares of all firms in the industry.

Four-Firm Concentration Ratio

A measure of market concentration that indicates the combined market share of the four largest firms in an industry.

Productive Efficiency

A situation where a good or service is produced at the lowest possible cost.

Allocative Efficiency

A state of the economy in which resources are allocated in a way that maximizes the total benefit to society.