Table 4-11 -Refer to Table 4-11. the Equations Above Describe the Demand

Multiple Choice

Table 4-11

-Refer to Table 4-11. The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick. The equilibrium price and quantity for Chef Ernie's sushi are $60 and 20 thousand units. What is the value of economic surplus in this market?

A) $300 thousand
B) $600 thousand
C) $1,200 thousand
D) $1,600 thousand