The Difference Between the Market Price of a Good and a Producer's

question 30

Multiple Choice

The difference between the market price of a good and a producer's marginal cost of every unit of the good is called

• A)consumer surplus.
• B)producer surplus.
• C)marginal surplus.
• D)excess supply.
• E)market surplus.

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Definitions:

CS

Commonly stands for Computer Science, a field of study focused on the theory, design, development, and application of computer systems.

Discrimination Learning

A process in learning where an organism learns to respond differently to various stimuli that are not identical.

Aversive US

An unpleasant or harmful unconditioned stimulus used in classical conditioning to produce a negative response.

Appetitive CS

A conditioned stimulus that predicts the arrival of a desirable outcome, often used in research to study how anticipatory behaviors are learned.