Producer surplus is the difference between ______.
a. what a producer is paid for a good and the cost of producing one unit of that good
b. what a consumer is willing and able to pay for one unit of a good and the price actually paid
c. the profit a producer makes and the profit remaining after taxes are paid
d. the number of goods produced and the number of goods sold
a. what a producer is paid for a good and the cost of producing one unit of that good
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A worker's stock of knowledge is known as
A) monetary capital. B) human capital. C) physical capital. D) financial capital.
If the price of business broadband is greater than that of residential broadband, all else equal,
A) business has greater price elasticity than residential. B) residential has greater price elasticity than business. C) both have positive income elasticity. D) generally speaking, broadband is equally priced.