Question

Producer​ surplus:

a. is the difference between the true value of a good and the amount the firm wants to receive.
b. is the difference between the maximum amount a person is willing to pay for a good and its current market price.
c. represents the minimum amount a firm must receive for a particular good in order to be able to produce the good.
d. is the difference between the current market price and the cost of production for the firm.

Answer 1

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