Producer Surplus Is Defined as

question 131

Multiple Choice

Producer surplus is defined as

• A)the value that the consumer places on a good over the amount they pay for it.
• B)the money that the producer gets from a good over the amount they are willing to sell it for.
• C)when quantity supplied is greater than quantity demanded.
• D)when quantity demanded is greater than quantity supplied.

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Definitions:

Commission

An instruction, duty, or role given to a person or group, particularly in a governmental or corporate context.

Hardware

The physical components of a computer or other electronic system, as opposed to software or data.

Software

A collection of data, programs, and instructions that enable computers to perform specific tasks and operations.

Breach

The violation or failure to uphold a law, duty, or agreement.