Use the following to answer question(s): Surplus and Supply

-(Exhibit: Surplus and Supply) At output level OE, the total costs to sellers is _______ , the total revenues to sellers is _______ , and the producer surplus is _______ .
A) OADE; OBDE; ABD
B) OBDE; OADE; ABD
C) OADE; OBDE; OAFE
D) OBDE; OADE; OAFE

Question

Use the following to answer question(s): Surplus and Supply
 
-(Exhibit: Surplus and Supply) At output level OE, the total costs to sellers is _______ , the total revenues to sellers is _______ , and the producer surplus is _______ .
A) OADE; OBDE; ABD 
B) OBDE; OADE; ABD 
C) OADE; OBDE; OAFE 
D) OBDE; OADE; OAFE

Quizplus · Accepted Answer

At output level OE, the total costs to sellers is represented by the area OADE, the total revenues to sellers is represented by the area OBDE, and the producer surplus is the difference between total revenues and total costs, which is the area ABD.

Use the Following to Answer Question(s): Surplus and Supply