Producer surplus is

a) current market price.
b) the difference between the maximum a person is willing to pay and current market price.
c) the difference between current market price and full costs of production for the firm.
d) the difference between willingness to sell and full costs of productions for the firm.

B) the difference between the maximum a person is willing to pay and current market price.  

Explanation:

Consumer surplus is difference between maximum price consumer wants to pay and actual price he pays.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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answer; break-even analysis;