Producer surplus is equal to:
A: the difference between the highest market price consumers are willing to pay for a product and the minimum amount producers are willing to accept for that product.
B: the difference between the market price consumers are willing to pay for a product and the actual price they pay.
C: the price a producer receives for a product minus the marginal cost of production.
D: the economic profit earned from the sale of a good, minus its marginal cost of production.
A: the difference between the highest market price consumers are willing to pay for a product and the minimum amount producers are willing to accept for that product.
B: the difference between the market price consumers are willing to pay for a product and the actual price they pay.
C: the price a producer receives for a product minus the marginal cost of production.
D: the economic profit earned from the sale of a good, minus its marginal cost of production.
举一反三
- What is the total surplus of a market? A: the sum of consumer surplus and producer deficit B: the sum of consumer surplus and producer surplus C: the difference between the consumer surplus and producer surplus D: the difference between the highest price that a consumer is willing to pay and the lowest price that a producer is willing to sell
- The minimum supply price, the lowest price at which a producer is willing to supply an additional unit of a good, is: A: less than the marginal revenue for the additional unit. B: the price at which producer surplus is maximized. C: the marginal cost of producing the additional unit.
- ( ) is the difference between what consumers are willing and able to pay for a good and what they actually pay for the good.
- Who will be prevented from buying the good A: Some consumers who also estimate the value of the good at more than the marginal cost of production. B: Some consumers who estimate the price of the good at more than the marginal cost of the production. C: Some consumers who have a high opinion of the good at more than the marginal cost of the production. D: Some consumers who estimate the worth of the good at more than the marginal cost of the production.
- A price that is higher than the equilibrium price ( ) A: The producer cannot recover the production cost at this price. B: At this price, the quantity supplied is greater than the quantity<br/>demanded. C: Consumers are willing to purchase all products at this price. D: Demand is greater than supply at this price.