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September 15, 2014

Homework Help: Econ MC

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

I am having trouble solving this MC.

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

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