heighborhood lawns for extra money. Suppose that he would be willing to mow one lawn for $13, a second lawn for $17, and a third lawn for $24. Also suppose that three neighbors are interested in having their lawns mowed. Mrs. Jones would be willing to pay $32 to have her lawn mowed, Mr. Wilson would be willing to pay $30, and Ms. Smith would be willing to pay $24. If Tim offers to mow lawns for $24 each, what will be his producer surplus? $. (Enter a numeric response using an integer.) Considering Mrs. Jones, Mr. Wilson, and Ms. Smith together, what will be their consumer surplus?

heighborhood lawns for extra money. Suppose that he would be willing to mow one lawn for $13, a second lawn for $17, and a third lawn for $24. Also suppose that three neighbors are interested in having their lawns mowed. Mrs. Jones would be willing to pay $32 to have her lawn mowed, Mr. Wilson would be willing to pay $30, and Ms. Smith would be willing to pay $24. If Tim offers to mow lawns for $24 each, what will be his producer surplus? $. (Enter a numeric response using an integer.) Considering Mrs. Jones, Mr. Wilson, and Ms. Smith together, what will be their consumer surplus?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter2: Scarcity And Opportunity Costs

Section: Chapter Questions

Problem 3E

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