Question

Producer Surplus is defined as the difference between what a seller of a good gets and his cost of selling the good. If the hypothetical kidney market turned out to be like the one illustrated in Question #4 above, what would be the approximate total producer surplus realized by the sellers of kidneys?

Price (In dollars)	Quantity Demanded
$100,000	50,000
90,000	55,000
80,000	60,000
70,000	65,000
60,000	70,000
50,000	75,000
40,000	80,000
30,000	85,000
20,000	90,000
10,000	95,000
0	100,000

Price (In dollars)	Quantity Supplied
$100,000	127,000
90,000	116,000
80,000	105,000
70,000	94,000
60,000	83,000
50,000	72,000
40,000	61,000
30,000	50,000
20,000	39,000
10,000	28,000
0	17,000

Answer 1

Price	Quantity Demanded	Quantity Supplied
0	100000	17000
10,000	95,000	28,000
20,000	90,000	39,000
30000	85000	50000
40,000	80,000	61,000
50,000	75,000	72,000
60000	70000	83000
70,000	65,000	94,000
80,000	60,000	105,000
90000	55000	116000
100,000	50,000	127,000

Approximately the equilibrium price was approx. 53000 and equilibrium quantity is approx. 73000

Thus producer surplus is 1/2 * 36000 * 73000 = 1314000000