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Producer surplus is the difference between Multiple Choice the maximum prices consumers are willing to pay for a product and the lower equilibrium price. the quantity supplied and quantity demanded at an above equilibrium price. the maximum prices consumers are willing to pay for a product and the minimum prices producers are willing to accept. the minimum prices producers are willing to accept for a product and the higher equilibrium price.

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Producer surplus is the difference between the minimum prices producers are willing to accept for a product and the higher equilibrium price.

What is producer surplus?

This is used in economics to measure the welfare of the producer. It is the difference between what the producer is willing to make a supply of his goods for.

This difference is in relation to the amount that he is known to make from selling.

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