Give me accurate answer otherwise i give multiple downvote and complain to bartelbyNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate Assume quantities must be integers. The first table gives the demand schedule:P$42$35$29$13$3QdP$2$14$24$31$4912345The second table gives the supply schedule.Qs12345If the market is perfectly competitive, what is total surplus in equilibrium?Round to two decimal places and do not enter the $. If your answer is $1.125, enter1.13.

Total surplus is the total surplus of the economy. It is the maximum benefit consumers and producers…

Answered: Assume quantities must be integers. The…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Give me accurate answer otherwise i give multiple downvote and complain to bartelby

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.
Answer completely and accurate answer.
Rest assured, you will receive an upvote if the answer is accurate

Assume quantities must be integers. The first table gives the demand schedule:
P
$42
$35
$29
$13
$3
Qd
P
$2
$14
$24
$31
$49
1
2
3
4
5
The second table gives the supply schedule.
Qs
1
2
3
4
5
If the market is perfectly competitive, what is total surplus in equilibrium?
Round to two decimal places and do not enter the $. If your answer is $1.125, enter
1.13.

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