The market price of a basketball is $35 and the full cost of producing it is $20, then a basketball producing firm gets producer surplus of

Question

Quizplus · Accepted Answer

Producer surplus is the difference between the market price of a good and the cost of producing it. In this case, the market price of a basketball is $35 and the full cost of producing it is $20, so the producer surplus is $35 - $20 = $15. Therefore, the correct answer is D.

The Market Price of a Basketball Is $35 and the Full