The net benefit to sellers earn from selling a good or service is called a
A)Consumer surplus
B)Producer surplus
C)Economic surplus
D)Economic efficiency

Question

Quizplus · Accepted Answer

The net benefit to sellers is called producer surplus. Consumer surplus refers to the net benefit consumers receive from purchasing a good or service. Economic surplus is the sum of producer and consumer surplus. Economic efficiency refers to the optimal allocation of resources to maximize economic surplus.

The Net Benefit to Sellers Earn from Selling a Good