Producer surplus equals total revenue minus the sum of all marginal cost
What will be an ideal response?
True. The sum of all marginal cost equals total variable cost. Total revenue minus total variable cost equals producer surplus.
Economics
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Opportunity costs exist for
a. households but not businesses or governments. b. businesses but not households or governments. c. businesses and households but not governments. d. households, businesses, and governments.
Economics
When consumers lose confidence in the future of their economy, they begin to consume more, and this causes the aggregate demand curve to shift to the right
a. True b. False Indicate whether the statement is true or false
Economics