Producer surplus for any unit sold is equal to (O The vertical distance between the demand curve and price. (O The vertical distance between the supply curve and price. (O The vertical distance between the supply curve and the demand curve. (O The horizontal distance between the price and quantity. (O The horizontal distance between the supply curve and the price. The net social benefits of a market are equal to (O consumer surplus times producer surplus. (O the difference between consumer and producer surplus. (O the sum of consumer and producer surplus. (O total revenue minus total cost. (O quantity demanded times the price. A price floor above the equilibrium price typically implies that (O quantity is determined by the intersection of supply and demand. (O quantity demanded is lower than quantity supplied, and a deadweight loss is created. (O quantity supplied is lower than quantity demanded, and a deadweight loss is created. O supply will increase. (O demand will increase. Consider the market diagrammed below. Deadweight loss is zero when the price equals Price 12 Quantity A price floor will (O clearly increase consumer surplus but have an ambiguous effect on producer surplus. (O clearly increase both consumer and producer surplus. (O clearly increase producer surplus but have an ambiguous effect on consumer surplus. (O clearly decrease consumer surplus but have an ambiguous effect on producer surplus. (O clearly decrease both consumer and producer surplus. A price floor above the equilibrium price typically implies that (O quantity is determined by the intersection of supply and demand. (O quantity demanded is lower than quantity supplied, and a deadweight loss is created. (O quantity supplied is lower than quantity demanded, and a deadweight loss is created. O supply will increase. (O demand will increase. Producer surplus for any unit sold is equal to (O The vertical distance between the demand curve and price. (O The vertical distance between the supply curve and price. (O The vertical distance between the supply curve and the demand curve. (O The horizontal distance between the price and quantity. (O The horizontal distance between the supply curve and the price. Question 6 The net social benefits of a market are equal to (O consumer surplus times producer surplus. (O the difference between consumer and producer surplus. (O the sum of consumer and producer surplus. (O total revenue minus total cost. (O quantity demanded times the price. Suppose that Jose is willing to pay a maximum of 3 dollars per cup of regular coffee at a coffee shop on campus. What is Jose's consumer surplus from buying one cup of coffee if the actual price of coffee is 2 dollars per cup? O $0 O $2 O $3 @ $1 O $5