The minimum acceptable price for a product that producer Sam is willing to receive is 10. The price he could get for the product in the market is 15. How much is Sam's producer surplus?
A)25
B)15
C)more than $10
D)5
E)150

Question

Quizplus · Accepted Answer

Producer surplus is the difference between the market price and the minimum price at which a producer is willing to sell. Here, it's 15 - 10 = 5.

The Minimum Acceptable Price for a Product That Producer Sam