Producer surplus is the: a. number of producers who are excluded ...

[student77]

Producer surplus is the:
 a. number of producers who are excluded from a market because of scarcity.
  b. amount of a good that a producers will sell at a price below the equilibrium price.
  c. amount consumers actually pay for a good minus the amount the sellers are willing to sell the good.
  d. amount consumers are willing to pay for a good minus the cost of producing the good.

Question 2

Consumer surplus:
 a. is minimized in market equilibrium.
  b. measures the value between the actual selling price of a product and the price at which sellers are willing to sell the product.
  c. measures the value between the price consumers are willing to pay for a product and the price they actually pay.
  d. measures the price at which sellers extract excess profits from consumers.

[shailee]

Answer to Question 1

c

Answer to Question 2

c