the total revenue obtained from using a productive resource minus all opportunity costs of production (opportunity costs of entrepreneurs' skills, labor, capital, and ownership of natural resources).
The difference between the revenue of producers and production cost, measured as the area above the supply (or marginal cost) curve and below price, out to the quantity supplied, and net of fixed cost and losses at low output. If input prices are constant, this is profit; if not, it includes gains to input suppliers, such as labor. Normally useful only as the change in producer surplus.
the difference between the total amount earned from a good (price times quantity sold) and the production costs.
The difference between what a supplier is paid for a good or service and what it costs to supply the good or service. Added to Consumer surplus, it provides a measure of the total economic benefit of a sale. View Capstone Lesson(s) that address this concept
the difference between the price received by a firm for an additional item sold and the marginal cost of the item's production; for the market as a whole, it is the sum of all the individual firms' producer surpluses, or the area above the market supply curve and below the market price.
The aggregate profits of firms making a good plus the amount that owners of inputs (used to make the good) are compensated above and beyond the minimum they would insist on. Geometrically, it equals the area above the supply curve and below the price.
The price of a good minus the marginal cost of producing it. (p. 138)
Area above the supply curve and below the price, the value of production at a given price minus the cost of production.
The excess of the revenue received by a producer of a commodity over the minimum amount they would be willing to accept to maintain the same level of supply.
Producer surplus is the price a producer gets for a good or service minus the opportunity cost of producing it.
