When looking at a graph,the area above the supply curve and below market price is defined as:
A) consumer surplus.
B) producer surplus.
C) producer benefit.
D) business profit.
E) revenue.

Question

Quizplus · Accepted Answer

The area above the supply curve and below the market price represents the producer surplus, which is the difference between what producers are willing to accept for a good or service versus what they actually receive.

When Looking at a Graph,the Area Above the Supply Curve