Total Surplus Is: A.the Difference Between Price and the Cost to the Seller

question 144

Essay

Total surplus is:
A.the difference between price and the cost to the seller.
B.the sum of consumer and producer surplus.
C.equal to the area below the demand curve.
D.determined by the costs for each producer and the benefits for each consumer.

---

Definitions:

Human Culture

The complex whole of beliefs, practices, artifacts, and institutions that humans develop, share, and transmit across generations.

Million Years Ago

A term used in geology and paleontology to specify a point in time millions of years before the present.

Old World

A term referring to regions of the world known to Europeans before the discovery of the Americas, including Africa, Europe, and Asia.

Anthropoid Species

A group of primates that includes monkeys, apes, and humans, characterized by their well-developed brains and upright posture.