QUESTION 48 Producer surplus is o current market price o the

QUESTION 48 Producer surplus is o current market price o the difference between the maximum a person is willing to pay and current market price o the difference between willingness to sell and full costs of productions for the firm O the difference between current market price and full costs of production for the firm.

Solution

Option C is correct.

Producer surplus is the difference between willingness to sell and full costs of productions for the firm.

It is the difference between the price at which a firm is willing to sell it\'s products and the full cost of production for the firm.

It is actually the price that a firm accepts for its products and the price they actually receive for their products.