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Determining the consumer? surplus

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Reference no: EM131602752

Tim mows neighborhood lawns for extra money. Suppose that he would be willing to mow one lawn for ?$11?, a second lawn for ?$19?, and a third lawn for ?$23. Also suppose that three neighbors are interested in having their lawns mowed. Mrs. Jones would be willing to pay ?$30 to have her lawn? mowed, Mr. Wilson would be willing to pay ?$30, and Ms. Smith would be willing to pay ?$23

If Tim offers to mow lawns for ?$23 ?each, what will be his producer? surplus?

Considering Mrs.? Jones, Mr.? Wilson, and Ms. Smith? together, what will be their consumer? surplus?

Reference no: EM131602752

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