Table 4-6 -Refer to Table 4-6.The Equations Above Describe the Demand and Describe

Multiple Choice

Table 4-6

-Refer to Table 4-6.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