Producer surplus is the price of a good minus the opportunity cost of producing it, summed over the quantity produced.

Name: Producer surplus is the price of a good minus the opportunity cost of producing it, summed over the quantity produced.
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Question

Quizplus · Accepted Answer

Producer surplus is calculated as the difference between the price received by producers and their opportunity cost, summed over the quantity produced.

Producer Surplus Is the Price of a Good Minus the Opportunity