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:

Business Ethics

moral principles and standards that guide behavior in the world of commerce, influencing company policies and practices.

Profit Motive

The intent to engage in activities or transactions for the purpose of earning financial gain or profit.

Business Ethics

An area of practical ethics focused on analyzing moral dilemmas and ethical concerns emerging within business settings.

Ethics Of Care

The ethical theory that emphasizes human interaction, holding that what makes a decision ethical is how well it builds and promotes human relationships.