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Aleks [24]
3 years ago
9

At nick's bakery, the cost to make homemade chocolate cake is $3 per cake. as a result of selling three cakes, nick experiences

a producer surplus in the amount of $19.50. nick must be selling his cakes for
Business
1 answer:
Kazeer [188]3 years ago
3 0
Producer surplus is the difference between the amount a producer of a good receives and the minimum amount the producer is willing to accept for the good.

Cost to make 1 cake= $3

FIND SURPLUS PER CAKE
Surplus divided by 3 cakes
$19.50 ÷ 3= $6.50 surplus per cake

SALE PRICE OF CAKES
$3 cost + $6.50 surplus= $9.50

ANSWER: He must be selling his cakes for $9.50.

Hope this helps! :)
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