Quantitative Analysis of Price Ceilings and Floors: Finding Points

5. Consumer and Producer Surplus; Price Ceilings and Price Floors / Quantitative Analysis of Price Ceilings and Floors: Finding Points / Problem 6

Problem 6

In a market with a price floor, if the quantity supplied is 6000 units and the quantity demanded is 4500 units, what is the surplus?

1000 units

1500 units

2000 units

500 units