Multiple Choice
Alex tutors in his spare time for extra income. Students are willing to pay $48 per hour for as many hours Alex is willing to tutor. On a particular day, he is willing to tutor the first hour for $16, the second hour for $24.0, the third hour for $29.0, and the fourth hour for $48. Assume Alex is rational in deciding how many hours to tutor. His producer surplus is
A) $56.0.
B) $75.0.
C) $133.0.
D) $69.0.
Correct Answer:
Verified
Correct Answer:
Verified
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