At equilibrium, total economic surplus would be represented by the area

A$)a+b.$

B$)a+b+c.$

C$)$ a$.$

D$)$ b$.$

Micah can produce bicycles at a marginal cost of $$120.$ Jacqueline values this bicycle at $$180.$ If Jacqueline buys a bicycle from Micah, what is the total economic surplus created?

A$)$ $$60$

B$)$ $$120$

C$)$ $$180$

D$)$ It depends on the price that Jacqueline pays