Producer surplus is the
A. area under the supply curve to the left of the amount sold
B. area under the supply curve to the right of the amount sold
C. amount the seller is paid plus the cost of production
D. amount the seller is paid less the cost of production
E. cost to sellers of participating in a market
D. amount the seller is paid less the cost of production
You might also like to view...
If Mother Teresa had spent $190,000 on a leprosarium in Calcutta, how would her purchase have directly affected U.S. GDP?
A) It would remain unchanged because the expenditure occurred outside the domestic economy. B) It would remain unchanged because Mother Teresa was not acting out of her own selfish interests. C) It would have increased by $190,000. D) It would have decreased by $190,000.
Which of the following is TRUE about firms organized along functional lines?
a. Workers develop functional expertise b. Workers can easily share information within their division c. They foster the exploitation of economies of scale d. All of the above