When Looking at a Graph,the Area Above the Supply Curve

question 100

Multiple Choice

When looking at a graph,the area above the supply curve and below market price is defined as

• A) consumer surplus.
• B) producer surplus.
• C) producer benefit.
• D) business profit.
• E) tax revenue.

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Definitions:

Accruals

Accounting adjustments for revenues and expenses that have been earned or incurred but not yet recorded in the accounts, to reflect the real-time financial performance.

Dividends Paid

The portion of a company's earnings that is distributed to shareholders as a payment.

Strategic Planning

A process by which organizations define their strategy or direction and make decisions on allocating their resources to pursue this strategy.

Operational Planning

The process of planning short-term actions and resources towards achieving medium-term objectives and strategies.