Only typed answer and please answer correctly For efficiency ________(0,1, 2, 3, 4) haircuts should be given There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs:Consumers' Willingness to PayDmitri: $35Antonio: $50Caroline: $40Frances: $25Each firm has the capacity to produce only one haircut.For efficiency,Which businesses should cut hair? Check all that apply.Firm AFirm BFirm CFirm DWhich consumers should have their hair cut? Check all that apply.AntonioCarolineshould be given.DmitriFrancesThe maximum possible total surplus is $Firms' CostsFirm A:$25Firm B: $40Firm C: $30Firm D: $45

Consumer surplus is the difference between what the consumer expected to pay for the good and what…

Dmitri: $35 Antonio: $50 Caroline: $40 Frances: $25 Consumers' Willingness to Pay Each firm has the capacity to produce only one haircut. For efficiency, Which businesses should cut hair? Check all that apply. 0 0 Firm A Firm B Firm C Firm D Which consumers should have their hair cut? Check all that apply. Antonio Caroline should be given. Dmitri Frances The maximum possible total surplus is le Firms' Costs Firm A: $25 Firm B: $40 Firm C: $30 Firm D: $45

Dmitri: $35 Antonio: $50 Caroline: $40 Frances: $25 Consumers' Willingness to Pay Each firm has the capacity to produce only one haircut. For efficiency, Which businesses should cut hair? Check all that apply. 0 0 Firm A Firm B Firm C Firm D Which consumers should have their hair cut? Check all that apply. Antonio Caroline should be given. Dmitri Frances The maximum possible total surplus is le Firms' Costs Firm A: $25 Firm B: $40 Firm C: $30 Firm D: $45

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 8PA

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