Producer Surplus Is

question 15

Multiple Choice

Producer surplus is

• A)the value producers place on a good minus the price of the good.
• B)the price of the good minus the value producers place on it.
• C)zero if price equals marginal cost.
• D)equal to marginal benefit minus marginal cost.
• E)equal to consumer surplus.

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Definitions:

Responding

The act of replying or reacting to something.

Speaker

An individual who conveys information or expresses ideas through verbal communication in various settings.

Positive Reinforcement

A method in behavior theory where the introduction of a rewarding stimulus following a desired behavior increases the likelihood of it happening again.

Approval

The act of agreeing with or accepting something as satisfactory.