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2 years ago

If the price of tutoring increases from $5 to $15, producer surplus increases, in numerals, by $_____.

Business

1 answer:

olga_2 [115]2 years ago

7 0

With the price increase in tutoring from $5 to $15, producer surplus increases by <u>$10</u>.

<h3>What is producer surplus?</h3>

Producer surplus is the additional benefit that the tutors receive. It can be computed by determining the difference between old tutoring price, $5, and the new market price of $15. The implication is that while tutors are willing to accept $5, the new marketing price has made it possible for them to increase their surplus by $10 ($15 - $5).

Thus, the producer surplus increases by $10 to show the increased benefit that suppliers receive for selling their services in the marketplace.

Learn more about producer surplus at brainly.com/question/7622454

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