producer’s surplus

Definitions

Economics

  • noun
    (written as producer's surplus)
    the amount by which the actual price of a product is more than the minimum which the producer would accept for it

Health Economics

  • (written as Producer's Surplus)
    The difference between what a producer receives and the minimum required to compensate the producer for producing/selling. In the diagram, the marginal cost curve (supply curve) in a price-takers' market defines the lower boundary of the producer's surplus (the shaded area).

Marketing

  • noun the amount by which the actual price of a product is more than the minimum which the producer would accept for it
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