The Producer Surplus on a Unit of a Good Is

question 403

Multiple Choice

The producer surplus on a unit of a good is the

• A) difference between the marginal social benefit and the marginal social cost.
• B) number of dollars' worth of other goods and services forgone to produce this unit of the good.
• C) difference between the price of the good and the marginal cost of producing the good.
• D) difference between the total cost of the good and the marginal cost.

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Definitions:

Elastic

A property of materials that enables them to resume their original shape after being stretched or compressed.

Cartilage

A flexible, rubbery connective tissue found in various forms in the larynx and respiratory tract, the external ear, the joints, the rib cage, and elsewhere in the body.

Ectotherms

Cold-blooded animals whose body temperature is regulated by external environmental conditions, unlike endotherms that regulate their body temperature internally.

Cuboidal Epithelial

Cuboidal epithelial cells are cube-shaped cells that make up the epithelium, functioning in secretion and absorption, found in many glands and ducts.