Question: Producer surplus is . . . a . the amount of economic profit that would be present if there were no fixed costs in the

Producer surplus is ... a. the amount of economic profit that would be present if there were no fixed costs in the production process. b. the amount of revenue received by the producer above the amount that would have been required to supply the product in the short run. c. the difference between the total revenue and the total variable cost of a production process. d. All of the options are correct.

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