In the short run, producers derive surplus from market exchange because
a. total revenue is greater than the minimum they would require to sell the good
b. total revenue is equal to the minimum amount they would require to sell the good
c. total revenue is less than the minimum amount they would require to sell the good
d. marginal revenue equals average revenue
e. they can rob consumers of most of their consumer surplus
A
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Producer surplus is the sum of the profits earned by all firms in a market
Indicate whether the statement is true or false
Use the following market data to answer the question below.Price per UnitQuantity Purchased by ConsumerQuantity Sold by Producer$52,0000101,800300151,600600201,400900251,2001,200301,0001,500In the market shown in the table, the marginal benefit of 1,200th unit is
A. $25. B. $10. C. $20. D. $15.