The excess of price a person is to pay rather than forego the consumption of the commodity is called...........

General Knwoledge (Hr Patwari ) Indian Economy

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The excess of price a person is to pay rather than forego the consumption of the commodity is called

Price

Profit

Producers' surplus

None of these

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Explanation:

‘Producer Surplus’ is an economic measure of the difference between the amount that a producer of a good receives and the minimum amount that he or she would be willing to accept for the good. The difference, or surplus amount, is the benefit that the producer receives for selling the good in the market.

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