In the long run, a firm's producer surplus is equal to the:

A) economic rent it enjoys from its scarce inputs.
B) revenue it earns in the long run.
C) positive economic profit it earns in the long run.
D) difference between total revenue and total variable costs.
E) difference between total revenue and total fixed costs.

Producer Surplus

The difference between the amount that producers are willing and able to sell a good for and the actual amount they receive in the market.

Economic Rent

Income derived from the possession of a unique resource, exceeding that which is needed to keep the resource in its current employment.

Economic Profit

The profit from producing goods and services while considering both explicit and implicit costs, including opportunity costs.