Tim mows neighborhood lawns for extra money. Suppose that he would be willing to mow one lawn for $10, a second lawn for $16, and a third lawn for $21. 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 $21. If Tim offers to mow lawns for $21 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 sumlus? S

Tim mows neighborhood lawns for extra money. Suppose that he would be willing to mow one lawn for $10, a second lawn for $16, and a third lawn for $21. 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 $21. If Tim offers to mow lawns for $21 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 sumlus? S

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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