Producer surplus is the difference between the lowest price a firm is willing to accept for a product and the price it actually receives for the product. true or false

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o

answermeasured by how well she or he does the job'; /

answer///supply is elastic, and demand is inelastic;