1. At a price of zero, what is the total producer surplus?

A) $10,000
B) $1,000
C) $500
D) $250
E) $0

2. At a price of $6, what is the total producer surplus?

A) $240
B) $180
C) $120
D) $80
E) $6

3. Which of these definitions below describes what producer surplus is?

A) The additional benefit received by suppliers from consumers.
B) On a graph PS = 1/2 base x height.
C) On a graph it is the triangle located below the price charged in the market and above the supply curve.
D) The difference between what suppliers in the market were willing to sell the product for and what consumers actually pay.
E) All of the above.