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17 November, 07:09

0 John is a tutor for a university, making $300. The university raises the pay to $400. Given the increase, Emily decides to tutor now. By how much has producer surplus risen?

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  1. 17 November, 07:28
    0
    Between 100 and $200

    Explanation:

    As we know that

    Producer surplus = Market price-The actual selling rate for the products

    Given information

    John made as a tutor = $300

    University raise it to $400

    So based on this, there are various conditions like

    1. John is earning $100 more as a tutor

    2. If Emily enters, then the producer surplus is between $0 and $100

    This price would not more than $100 because if the price is more than she has to start the tutoring when the price is $300

    So overall it would lie in between $100 and $200
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Home » Business » 0 John is a tutor for a university, making $300. The university raises the pay to $400. Given the increase, Emily decides to tutor now. By how much has producer surplus risen?
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