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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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