The difference between the actual price that a producer receives and the minimum acceptable price a producer is willing to accept is:

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Quizplus · Accepted Answer

Producer surplus is the difference between the actual price a producer receives and the minimum acceptable price they are willing to accept. Consumer surplus, on the other hand, is the difference between the maximum price consumers are willing to pay and the actual price they pay. Allocative efficiency relates to the optimal allocation of resources, and productive efficiency relates to achieving the maximum output from available resources.

The Difference Between the Actual Price That a Producer Receives