Producer Surplus

question 29

Multiple Choice

Producer surplus

• A)is the minimum amount a firm must receive to engage in trade.
• B)is a measure of what a firm gains from trade.
• C)represents the opportunity cost of the firm.
• D)determines whether or not a firm will produce in the long run.

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Definitions:

Slope

The determination of how steep or inclined a line is, identified by the relationship between its vertical shift and horizontal shift when examining two specific points on the line.

Intercept

In linear regression, it is the expected value of the dependent variable when all predictors are equal to zero.

Predicted GPA

An estimate of a student's grade point average based on certain predictive factors or models.

Slope

A measure of the steepness or incline of a line, typically quantified as the ratio of the vertical change to the horizontal change between two points on the line.