Producer Surplus in this market isA) 20,000B)40,000C)60,000D)80,000E)100,000

The consumers and producers in the market for houses are shown in the table below. Each rm builds one house, and each consumer buys one house. The equilibrium market price is $70,000. Consumers Consumer 1 Consumer 2 Consumer 3 Willingness to Pay $100,000 $80,000 $60,000 Producers Firm 1 Firm 2 Firm 3 Production Cost $20,000 $60,000 $100,000