Which consumers should have their hair cut? Check all that apply.AlexВeckyRaphaelSusanThe maximum possible total surplus is $ 8. Problems and Applications Q8There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs:Consumers' Willingness to PayFirms' CostsRaphael: $45Firm A: $40Alex:$25Firm B: $20Вecky:$15Firm C: $10Susan:$35Firm D: $30Each firm has the capacity to produce only one haircut.For efficiency,should be given.Which businesses should cut hair? Check all that apply.Firm AFirm BFirm CFirm D

It is given that there are four customers having a maximum willingness to pay.

There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following cost Consumers' Willingness to Pay Firms' Costs Raphael: $45 Firm A: $40 Alex: $25 Firm B: $20 Вecky: $15 Firm C: $10 Susan: $35 Firm D: $30 Each firm has the capacity to produce only one haircut. For efficiency, should be given. Which businesses should cut hair? Check all that apply. O Firm A O Firm B O Firm C

There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following cost Consumers' Willingness to Pay Firms' Costs Raphael: $45 Firm A: $40 Alex: $25 Firm B: $20 Вecky: $15 Firm C: $10 Susan: $35 Firm D: $30 Each firm has the capacity to produce only one haircut. For efficiency, should be given. Which businesses should cut hair? Check all that apply. O Firm A O Firm B O Firm C

Principles of Microeconomics

7th Edition

ISBN:9781305156050

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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