Producer surplus is the revenue producers receive over and above the minimum necessary for production.

Name: Producer surplus is the revenue producers receive over and above the minimum necessary for production.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is true. Producer surplus is calculated by subtracting the total cost of production from the total revenue earned by producers. Therefore, it represents the revenue producers receive over and above the minimum necessary for production.

Producer Surplus Is the Revenue Producers Receive Over and Above