How is the benefit received by sellers in a market measured
A)by the supply curve
B)by producer surplus
C)by the amount sellers receive for their product
D)by the sellers' costs

Question

Quizplus · Accepted Answer

The benefit received by sellers in a market is measured by producer surplus, which is the difference between the amount sellers receive for their product and their costs of production. The supply curve only shows the quantity of goods that sellers are willing and able to sell at different prices, while the amount sellers receive for their product and their costs are only part of the calculation for calculating producer surplus. Therefore, B is the best choice.

How Is the Benefit Received by Sellers in a Market