Producer surplus is equal to

Name: Producer surplus is equal to
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Producer surplus is the difference between the price at which a producer is willing to sell a good and the actual price they receive. It is represented by the area above the supply curve and below the market price. Option B correctly describes the area above the supply curve and below the good's price, which represents the producer surplus. Option A describes the total revenue of producers, and options C and D are incorrect.

Producer Surplus Is Equal to