______________ represents payment that is made above the amount required for the producers to be willing to supply a specific amount of a commodity to the market.
A)Producer surplus
B)Consumer surplus
C)Revenue effect
D)Import tariff

Question

Quizplus · Accepted Answer

Producer surplus is the payment that is made above the amount required for the producers to be willing to supply a specific amount of a commodity to the market. It represents the difference between the price that producers receive for their products and the minimum price they would be willing to accept.

______________ Represents Payment That Is Made Above the Amount Required