Producer surplus for an entire market is:
A)the difference between quantity supplied and quantity demanded.
B)the area below the market demand curve and above the market supply curve.
C)the area below price and above the market supply curve.
D)the area above price and below the market demand curve.

Question

Quizplus · Accepted Answer

Producer surplus for an entire market is the area below the market price and above the market supply curve. This represents the difference between what producers are willing to accept for a good or service versus what they actually receive.

Producer Surplus for an Entire Market Is