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Total surplus of all transactions, what is the largest total surplus that can be achieved? Person Maximum Price Willing to Pay Person Minimum Acceptable Price Bob $14 Carlos $3 Barb 12 Courtney 4 Bill 11 Chuck 5 Bart 10 Cindy 6 Brent 9 Craig 7 Betty 8 Chad 8 Instructions: Enter a whole number as your answer. What is the total surplus if Bob buys a unit from Carlos? Instructions: Enter a whole number as your answer. What is the total surplus if Barb buys a unit from Courtney? Instructions: Enter a whole number as your answer. What is the total surplus if Bob buys a unit from Chad? Instructions: Enter a whole number as your answer. If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved?

Microeconomics, Economics

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