A major addition to equipment should have been capitalized in the year 2021 but was incorrectly expensed. Which of the following is (are) true? Multiple Choice Income in 2021 is understated. Income in future years is overstated. Assets in 2021 are understated. All of these answer choices are true.

After the price floor is instituted, the chairman of productions office buys up any barrels of gosum berries that the producers are not able to sell. with the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. how much producer surplus is created with the price floor? show your calculations.