Heading 2 No Spacing Heading ANSWER: A Figure 4-3 (choltere "or pound) Supply Demand Quantity Pounds Figure 4-3 shows the market for tiger shrimp. The market is initially in equilibrium at a price of $15 and a quantity of 80. Now suppose producers decide to cut output to 40 in order to raise the price to $18. . 7) Refer to Figure 4-3. What is the value of producer surplus at a price of $18? A) $240 B) $300 C) $340 D) $720