A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2019 · Q131 Mark
Producer surplus is the difference between
Athe consumer surplus from the good and the producers' total cost of supplying the good.
Bthe highest price that the consumer would be willing to pay for the good and the price the producer actually sold it for.
Cthe lowest price that the producer would accept for the good and the price the producer actually sold it for.
Dthe quantity that the producers manufacture in a week and the amount sold to consumers in that week.
✓ Correct answer
C: the lowest price that the producer would accept for the good and the price the producer actually sold it for.
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