Producer Surplus Is The

question 44

Multiple Choice

Producer surplus is the:

• A) amount paid to sellers above and beyond the value received by consumers.
• B) amount paid to sellers above and beyond the required minimum.
• C) amount paid to sellers.
• D) cost of production.

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Definitions:

Business Ethics

A field of study that examines moral principles and problems that arise in a business environment.

Situational Ethics

An ethical theory which holds that to evaluate the morality of an action, we must imagine ourselves in the position of the person facing the ethical dilemma and then, on that basis, determine whether that person’s action was ethical.

Consequentialism

An ethical theory that judges whether an act is right or wrong based on the outcomes or consequences of that act.

Help

Assistance or support offered to solve a problem or achieve a goal.