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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 Pay Hilary: $35 Maria: $15 Edison: $45 Kevin: $25   Firms' Costs Firm A: $40 Firm B: $20 Firm C: $10 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. Firm A   Firm B   Firm C   Firm D     Which consumers should have their hair cut? Check all that apply. Edison   Hilary   Kevin   Maria     The maximum possible total surplus is .

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 Pay Hilary: $35 Maria: $15 Edison: $45 Kevin: $25   Firms' Costs Firm A: $40 Firm B: $20 Firm C: $10 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. Firm A   Firm B   Firm C   Firm D     Which consumers should have their hair cut? Check all that apply. Edison   Hilary   Kevin   Maria     The maximum possible total surplus is .

Microeconomics: Principles & Policy
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter3: The Fundamental Economic Problem: Scarcity And Choice
Section: Chapter Questions
Problem 4TY
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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 Pay
Hilary: $35
Maria: $15
Edison: $45
Kevin: $25
  Firms' Costs
Firm A: $40
Firm B: $20
Firm C: $10
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.
Firm A
 
Firm B
 
Firm C
 
Firm D
 
 
Which consumers should have their hair cut? Check all that apply.
Edison
 
Hilary
 
Kevin
 
Maria
 
 
The maximum possible total surplus is
.
 
 
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