Use the following to answer question:
Figure 10.8
-(Figure 10.8) If the golf instructor set a single price to maximize profit, she would earn producer surplus of _____. If she set a price of $120 an hour for the first four hours of instruction and $80 an hour for each hour of instruction beyond four hours, she would earn producer surplus of _____.
A) $480; $960
B) $320; $400
C) $500; $800
D) $80; $120

Question

Use the following to answer question:
Figure 10.8 
-(Figure 10.8) If the golf instructor set a single price to maximize profit, she would earn producer surplus of _____. If she set a price of $120 an hour for the first four hours of instruction and $80 an hour for each hour of instruction beyond four hours, she would earn producer surplus of _____.
A) $480; $960 
B) $320; $400 
C) $500; $800 
D) $80; $120

Quizplus · Accepted Answer

The Answer of Use the following to answer question:
Figure 10.8 
-(Figure 10.8) If the golf instructor set a single price to maximize profit, she would earn producer surplus of _____. If she set a price of $120 an hour for the first four hours of instruction and $80 an hour for each hour of instruction beyond four hours, she would earn producer surplus of _____.
A) $480; $960 
B) $320; $400 
C) $500; $800 
D) $80; $120

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