Producer Surplus Is

question 22

Multiple Choice

Producer surplus is

• A)represented on a graph by the area below the demand curve and above the supply curve.
• B)the amount a seller is paid minus the cost of production.
• C)also referred to as excess supply.
• D)All of the above are correct.

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Definitions:

Violation

The act of disregarding or breaking a law, agreement, or rule, resulting in possible legal penalties or consequences.

Manufacturer

A person or company that makes goods for sale, especially on a large scale through the use of machines.

National Cooperative Research Act

U.S. legislation that encourages collaborative research and development among businesses by providing certain antitrust protections.

Joint Research

Collaborative investigative efforts undertaken by two or more parties to achieve a common goal or to further their knowledge in a specific area.