If the market price of a basketball is $35 and the full cost of producing it is $20, then a basketball producing firm gets producer surplus of

A) 1 basketball.
B) $35.
C) $20.
D) $15.

Producer Surplus

Producer surplus is the difference between what producers are willing to accept for a good or service versus what they actually receive, indicating the benefit to producers.

Market Price

The current price at which a good or service can be bought or sold in the market.

Costs Of Production

The expenses incurred in manufacturing a product or providing a service, which may include raw materials, labor, overhead, and any other costs directly tied to the production process.