Economics (AS & A Level) · May / June 2026 · Paper 14 · Question 7
9708Consumer and producer surplus
What is producer surplus?
- AThe amount of the good left unsold when supply of a product exceeds demand for the product.
- BThe amount of goods purchased in a buffer stock scheme when prices are low.
- CThe difference between a point on a production possibility curve and a point inside it.
- DThe difference between the price a producer is willing to accept and the price that is actually paid.
As printed in the paper
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Correct answer: D. The difference between the price a producer is willing to accept and the price that is actually paid.
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