Which of the following situations best describes an increase in producer surplus?
1. When the price of pizza increases, producers are enticed to increase the quantity supplied.
2. When the price of pizza increases, the revenue and profit of pizza producers increase.
3. A firm in the pizza market is willing to produce and sell pizzas when the price is $15, but the prevailing market price at which a pizza can be sold is currently $20.
4. If the productivity of the workers that make pizza increases, producers can hire less workers to make the same amount of pizzas as before.

question 18

Question

22-09-2022
Business

Answered

Which of the following situations best describes an increase in producer surplus?
1. When the price of pizza increases, producers are enticed to increase the quantity supplied.
2. When the price of pizza increases, the revenue and profit of pizza producers increase.
3. A firm in the pizza market is willing to produce and sell pizzas when the price is $15, but the prevailing market price at which a pizza can be sold is currently $20.
4. If the productivity of the workers that make pizza increases, producers can hire less workers to make the same amount of pizzas as before.

question 18

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ogorwyne ogorwyne · Answer 1 · 2022-09-23T11:13:39-04:00

The description that would best give us the producer surplus is that : When the price of pizza increases, the revenue and profit of pizza producers increase.

What is referred to a producer surplus?

This is the term that is used to refer to the revenue that the producer is going to get because they sold the quantity of goods at a particular price in a given market.

The producer surplus would have to show us that the as the price that Pizza is being sold goes up, it would also cause the profit that the producers of the good would make to rise also.

Hence When the price of pizza increases, the revenue and profit of pizza producers increase.

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