Producer Surplusthe net gain to a seller fromselling a goodthe difference between theprice received and the minimumprice the producer is willing toaccept
Producer Surplus ◼ the net gain to a seller from selling a good ◼ the difference between the price received and the minimum price the producer is willing to accept
Producer SurplusPriceofwheat(perbushel)$5Price=s5Producersurplus01millionQuantityofwheat(bushels）The total producer surplusfrom sales of a good at a given price isthe area above the supply curve but below that price
The total producer surplus from sales of a good at a given price is the area above the supply curve but below that price. Producer Surplus
Total Surplusthe total net gain to consumers andproducers from trading in the marketthe sum of the producer surplus andthe consumer surplus
Total Surplus ◼ the total net gain to consumers and producers from trading in the market ◼ the sum of the producer surplus and the consumer surplus
Total SurplusPriceofbookConsumersurplus-Equilibrium$30一priceProducersurplus行01,000Quantityofbooks
Pc Pf Total Surplus