Question

Difference between total value to buyers and total variable cost of producers

Answer 1

hey mate here is your answer

The consumer surplus is the difference between the highest price a consumer is willing to pay and the actual market price of the good. The producer surplus is the difference between the market price and the lowest price a producer would be willing to accept. For producers, a surplus can be thought of as profit, because producers usually don't want to produce at a loss. The two together create an economic surplus

Answer 2

total value to buyers refers to sum of total variable cost and total fixed i.e. total cost that a consumer is liable to pay before consumption. where as total variable cost refers to the cost which vary with the change in level of output.

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