Figure 4-11 Figure 4-11 Shows the Demand and Supply

Multiple Choice

Figure 4-11 Figure 4-11 shows the demand and supply curves for the coffee market. The government believes that the equilibrium price is too low and tries to help almond growers by setting a price floor at $7.00.
-Refer to Figure 4-11. What is the value of the portion of consumer surplus that has been transferred to producer surplus as a result of the price floor?

A) $1,200
B) $1,500
C) $1,800
D) $3,000