One can determine producers' surplus if the minimum selling price and the _____________ are known.
A)price received
B)price paid
C)tax paid
D)tax received

Question

Quizplus · Accepted Answer

Producers' surplus is the difference between the minimum price a producer is willing to supply a certain quantity of a good and the actual selling price. Therefore, if the minimum selling price (which is the minimum price a producer is willing to sell a certain quantity of a good) and the price received (which is the actual selling price) are known, one can determine the producers' surplus.

One Can Determine Producers' Surplus If the Minimum Selling Price