Producer Surplus Is

question 49

Multiple Choice

Producer surplus is:

• A)always equal to zero for a competitive firm in long run equilibrium.
• B)always greater than zero for a competitive firm in long run equilibrium.
• C)defined as the area below the supply curve and above the price.
• D)defined as the area above the supply curve and above the price.

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Definitions:

Absorption

The process by which substances are taken up from the environment and enter the bloodstream or cells.

Hepatic Portal Vein

Portal vein formed by the superior mesenteric and splenic veins and entering the liver.

Nutrient-Rich Blood

Blood that is high in oxygen and nutrients, often a result of digestion and absorption in the small intestine, ready to be distributed throughout the body.

Liver

A large vital organ in vertebrates responsible for detoxification, protein synthesis, and the production of biochemicals necessary for digestion, among other functions.