contestada

"The minimum acceptable price for a product that producer Sam is willing to receive is $15. The price he could get for the product in the market is $18. How much is Sam's producer surplus?"

Respuesta :

proz

Answer:

Sam's producer surplus is $3

Explanation:

A producer surplus is the difference between the amount a producer is willing to sell a product for and the price of the product in the market that consumers are willing to pay if the consumer price is higher.

Mathematically, it is represented as; market price - willing price

= 18 - 15 = $3.

Otras preguntas