The amount of revenue that sellers actually receive over and above the minimum acceptable amount that they are willing to receive for selling a product is called
A) production costs.
B) producers' supply.
C) producer surplus.
D) surplus production.

Question

Quizplus · Accepted Answer

The amount of revenue sellers receive over and above the minimum acceptable amount is called producer surplus. It represents the benefit that producers receive for selling their product at a certain price.

The Amount of Revenue That Sellers Actually Receive Over and Above