Producer surplus
A. is the difference between the minimum price producers are willing to accept for a product and the higher equilibrium price.
B. is the difference between the maximum price consumers are willing to pay for a product and the lower equilibrium price.
C. rises as equilibrium price falls.
D. is the difference between the maximum price consumers are willing to pay for a product and the minimum price producers are willing to accept.
Answer: A
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Indicate whether the statement is true or false