Multiple Choice
What is meant by producer surplus?
A) It is the total quantity of a good produced by the seller.
B) It is the difference between the producer's marginal cost and the price.
C) It is the difference between a producer's minimum selling price and the actual price.
D) It is a measure of the total benefit to producers resulting from the purchase of an input.
Correct Answer:
Verified
Correct Answer:
Verified
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