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How much producer surplus is created with the price floor

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Reference no: EM132500282

After the price floor is instituted, the Chairman of Producgtions Office buys up any barrels of gosum berries that the producers are not able to sell. With the price floor, the producers sell 300 barrels per month to consumers, but th eproducers, at this high price floor, produce 700 barrels per month. How much producer surplus is created with the price floor?

Square 1: 300 x 20 = 6,000

Square 2: 200 x 20 = 6,000

Reference no: EM132500282

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