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Look at the two tables below. What is the total surplus if Bob buys a unit from Carlos? If Barb buys a unit from Courtney? If Bob buys a unit from Chad? 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? Consumer Surplus Producer Surplus Person Maximum Price Willing to Pay Person Minimum Acceptable Price Bob $17 Carlos $6 Barb 14 Courtney 7 Bill 13 Chuck 8 Bart 12 Cindy 9 Brent 11 Craig 10 Betty 10 Chad 11 Instructions: Enter a whole number for your answer. What is the total surplus if Bob buys a unit from Carlos? $ Instructions: Enter a whole number for your answer. What is the total surplus if Barb buys a unit from Courtney? $ Instructions: Enter a whole number for your answer. What is the total surplus if Bob buys a unit from Chad? $ Instructions: Enter a whole number for 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? $

Business Economics, Economics

  • Category:- Business Economics
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