1. Price and Quantity Supplied
Assume that during the school year you have 20 free hours/week after school, extra-curricular activities, and/or your job have been accounted for. Also assume that PHS has started a new tutoring service in which it is paying AP students to help their peers that are struggling. How many of your 20 free hours would you be willing to tutor at the following price levels?:
$5.00/hour
$7.00/hour
$10.00/hour
$15.00/hour
$25.00/hour
Now survey at least four of your classmates and generate a supply schedule (see below) for the new PHS tutoring program. Finally create a supply cure illustrating the schedule.
Wage/
Hour
You
Student #1
Student #2
Student #3
Student #4
Total $5 $7
$10
$15
$25