How much producer surplus is created now

Reference no: EM13686790

The minimum price at which a few of the producers are willing to sell a pound of cheese is $0.06, and the price floor is set at $0.17 per pound. With the price floor at $0.17 per pound of cheese, producers sell 212.5 billion pounds of cheese (some to customers and some to the USDA). How much producer surplus is created now?

Reference no: EM13686790

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