Karen sharpens knives in her spare time for extra income.Buyers of her service are willing to pay $2.50 per knife for as many knives as Karen is willing to sharpen.On a particular day,she is willing to sharpen the first knife for $1.75,the second knife for $2.25,the third knife for $2.75,and the fourth knife for $3.25.Assume Karen is rational in deciding how many knives to sharpen.Her producer surplus is

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The Answer of Karen sharpens knives in her spare time for extra income.Buyers of her service are willing to pay $2.50 per knife for as many knives as Karen is willing to sharpen.On a particular day,she is willing to sharpen the first knife for $1.75,the second knife for $2.25,the third knife for $2.75,and the fourth knife for $3.25.Assume Karen is rational in deciding how many knives to sharpen.Her producer surplus is

Karen Sharpens Knives in Her Spare Time for Extra Income