Producer Surplus Is

question 97

Multiple Choice

Producer surplus is

• A)the difference between the maximum price consumers are willing to pay and the minimum price producers are willing to accept.
• B)the excess of the amount received from the sale of a good or service over the cost of producing it.
• C)equal to the marginal cost of production.
• D)equal to the area under the supply curve.
• E)the total amount paid for the good.

---

Definitions:

Government Charges

Fees or dues levied by the government on businesses or individuals for various purposes.

Property Rights

The legal rights to use, control, and derive benefits from a property or resource.

Property Rights

Denotes the legal rights to use, control, and derive benefits from resources or properties, including real estate, intellectual properties, and personal possessions.

Resource Conservation

The practice of managing and using natural resources efficiently to protect them for future generations.