A student has a supply equation and selling price. What kind of surplus can the student calculate with this information?
A) The producers' surplus
B) The consumers' surplus
C) Both the consumers' and producers' surpluses

Question

Quizplus · Accepted Answer

With a supply equation and selling price, the student can calculate the producers' surplus, which is the difference between what producers are willing to accept for a good versus what they actually receive.

A Student Has a Supply Equation and Selling Price