Question 16 2.5 / 2.5 pts Figure 4-3 Price (dollars per pound) $21 Supply 15 13 Demand 11 40 80 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. Refer to Figure 4-3. What is the value of producer surplus at a price of $18? O $300 $340 O $240 $720