Producer surplus is the difference between the price of the good and the marginal cost of producing it. marginal benefit of the good and its marginal. marginal benefit of the good and its price. marginal cost of the good and the opportunity cost of producing it. Question 19 2 pts A minimum wage law in a competitive labor market creates a shortage of labor. causes equality between the quantity of labor supplied and the quantity demanded. creates a surplus of labor. lowers the wage rate paid to workers