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October 22, 2014

October 22, 2014

Posted by **Econ** on Tuesday, April 17, 2007 at 1:13am.

Marylyn and Rebecca sell lemonade on the corner. Each glass costs them $0.05 to make. At the end of the day, they have sold 50 glasses and received a total producer surplus of $12.50. That would mean that Marylyn and Rebecca sold each glass for

a. $0.15.

b. $0.20.

c. $0.25.

d. $0.30.

Use algebra. total cost = TC = .05*50.

Surplus = P*50 - TC = 12.50 Solve for P

- Econ MC -
**Martin**, Friday, March 28, 2008 at 11:58pmd. $0.30

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