Suppose a market is in equilibrium. The area below the market price and above the supply curve is:
A)the loss in total economic surplus.
B)producer surplus.
C)consumer surplus.
D)total economic surplus.

Name: Suppose a market is in equilibrium. The area below the market price and above the supply curve is: A)the loss in total economic surplus. B)producer surplus. C)consumer surplus. D)total economic surplus.
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Question

Quizplus · Accepted Answer

Producer surplus is the area between the price received and the sellers' reservation prices.

Suppose a Market Is in Equilibrium