Answer to Question #262499 in Microeconomics for Lilie

Question

The difference between what a product is willing to sell for a unit of a good and what must be received when actually selling it is called...

1 deadweight loss

2 net loss

3 producer surplus

4 consumer surplus

Answer 1

The difference between what a product is willing to sell for a unit of a good and what must be received when actually selling it is called producer surplus.