Jerry has a guitar that he is willing to sell for $150.If someone offers him $175,his producer surplus is $25.

Name: Jerry has a guitar that he is willing to sell for $150.If someone offers him $175,his producer surplus is $25.
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Question

Quizplus · Accepted Answer

Producer surplus is the difference between what a seller is willing to accept and what they actually receive, so if Jerry is willing to sell for $150 but receives $175, his producer surplus is $25.

Jerry Has a Guitar That He Is Willing to Sell