the area ______ the market supply curve and ______ the market price is equal to the total amount of producer…
the area ______ the market supply curve and ______ the market price is equal to the total amount of producer surplus in a market. a. below; above b. above; above c. above; below d. below; below
Answer
Brief Explanations:
Producer surplus is the difference between the price at which producers are willing to supply a good and the actual market - price they receive. Graphically, it is the area above the supply curve and below the market price.
Answer:
C. above; below