Which of the following formulas is not a valid characterization of producer surplus? A)Total revenue - the sum of marginal costs B)Profit + fixed costs C)Profit - marginal costs D)Total revenue - (total costs- fixed costs) E)(P -MC₁) + (P - MC₂) + (P -MC₃) + J + (P -MC_Q), where Q = quantity produced and sold

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The Answer of Which of the following formulas is not a valid characterization of producer surplus? A)Total revenue - the sum of marginal costs B)Profit + fixed costs C)Profit - marginal costs D)Total revenue - (total costs- fixed costs) E)(P -MC₁) + (P - MC₂) + (P -MC₃) + J + (P -MC_Q), where Q = quantity produced and sold

Which of the Following Formulas Is Not a Valid Characterization