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1 Which statement below about producer surplus is NOT true? Producer surplusrepresents the revenue generated from sales over and above the minimum price at which

1 Which statement below about producer surplus is NOT true?

  • Producer surplusrepresents the revenue generated from sales over and above the minimum price at which sellers are willing to sell.
  • When producer surplus drops to zero, firms stop producing.
  • Producer surplus is a similar conceptto consumer surplus.
  • Producer surplus is basicallythe same as profit.

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