The benefit received by the sellers of a good in a market is measured by:
A) consumer surplus
B) producer surplus
C) the amount buyers pay for the good
D) the amount it costs to produce the good

Question

Quizplus · Accepted Answer

Producer surplus is the benefit received by the sellers of a good in a market. It is measured as the difference between the price at which the seller is willing to sell a good and the price that the seller actually receives. This surplus reflects the seller's net gain from the transaction.

The Benefit Received by the Sellers of a Good in a Market