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Study the supply curve given below and answer the following question.

Q. ​At what price is the producer surplus equal to $2?
  • a)
    $1
  • b)
    $2
  • c)
    $3
  • d)
    $4
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Study the supply curve given below and answer the following question.Q...
Producer surplus, II is the area above the supply curve and below the price line.
It can be seen that at a price of $3
II =1/2×(3−1)×2=$2,
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Study the supply curve given below and answer the following question.Q.​At what price is the producer surplus equal to $2?a)$1b)$2c)$3d)$4Correct answer is option 'C'. Can you explain this answer?
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