The cumulative difference between the price producers actually receive and the price they are willing to produce for is
A)producer surplus.
B)deadweight loss.
C)total economic surplus.
D)conspicuous consumption.
E)consumer surplus.

Question

Quizplus · Accepted Answer

The cumulative difference between the price producers actually receive and the price they are willing to produce for is referred to as producer surplus. This represents the benefit that producers receive from participating in the market and is calculated as the difference between the price received and the minimum price at which they would be willing to sell.

The Cumulative Difference Between the Price Producers Actually Receive and the Price