Which of the following statements is incorrect? a. Producer surplus is the price received for a good minus its MC, summe

[answerhappygod]

Which of the following statements is incorrect?
a.
Producer surplus is the price received for a good minus its MC,
summed over the quantity sold.
b.
Consumer surplus is the sum of the maximum price consumers are
willing to pay and the minimum price producers are willing to
accept.
c.
Producer surplus is the area between the supply curve and the
market price received.
d.
Consumer surplus is the difference between how much consumers
are willing to pay and the actual market price.