Homework Answers
At the equilibrium point O i.e. at the price $1500 the producer surplus was depicted through the area of the triangle MOE
Now as the price changes to $2000, we will calculate the producer surplus by finding out the area of the figure ABCE, which is a trapezium.
So either use the formula of the area of trapezium to find the answer or you can also find the area of rectangle ABCD and triangle CDE and add them.
So, area of ABCD + area of CDE
= $ (200 x 1000) + ( 1/2 x 200 x 400 )
= $ 2,00,000 +40,000
= $2,40,000
Therefore, the correct option is (A)
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