If Gina sells a shirt for $40,and her producer surplus from the sale is $32,her cost must have been

Name: If Gina sells a shirt for $40,and her producer surplus from the sale is $32,her cost must have been
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Producer surplus is the difference between the price at which a good or service is sold and the cost of producing it. Therefore, if Gina's producer surplus is $32 and she sold the shirt for $40, her cost must have been $40 - $32 = $8.

If Gina Sells a Shirt for $40,and Her Producer Surplus