Tim mows neighborhood lawns for extra money. suppose that he would be willing to mow one lawn for $14, a second lawn for $15, and a third lawn for $22. also suppose that three neighbors are interested in having their lawns mowed. mrs. jones would be willing to pay $33 to have her lawn mowed, mr. wilson would be willing to pay $27, and ms. smith would be willing to pay $22.
if tim offers to mow lawns for $22 each, what will be his producer surplus?
considering mrs. jones, mr. wilson, and ms. smith together, what will be their consumer surplus?
i figured 16 dollars for the producer surplus but i am not sure how to get the consumer surplus.
Answers: 2
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Tim mows neighborhood lawns for extra money. suppose that he would be willing to mow one lawn for $1...
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