5. Consumer and Producer Surplus; Price Ceilings and Floors

5. Consumer and Producer Surplus; Price Ceilings and Floors / Producer Surplus and Willingness to Sell / Problem 3

Problem 3

On a graph, where is the producer surplus located?

Above the market price and below the supply curve.

To the left of the supply curve.

To the right of the supply curve.

Below the market price and above the supply curve.