Use the following to answer questions:
Figure: Producer Surplus 
-(Figure: Producer Surplus) Refer to the figure. What is the producer surplus at a price of $2 per unit?
Definitions:
Price Elasticity
A metric that reflects the degree to which the demand for a product changes in response to alterations in its price, indicating consumer sensitivity to price fluctuations.
Marginal Cost
The cost of producing an additional unit of output, which is an important factor in economic decision making.
Profit-maximizing Price
The price that results in the maximum possible profit for a firm, based on its cost structure and demand for its products.
Elasticity of Demand
A gauge for understanding how price changes influence the consumer demand for a particular good.
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