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

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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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 Pay
Dmitri: $35
Antonio: $50
Caroline: $40
Frances: $25
Each firm has the capacity to produce only one haircut.
For efficiency,
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.
Antonio
Caroline
should be given.
Dmitri
Frances
The maximum possible total surplus is $
Firms' Costs
Firm A:
$25
Firm B: $40
Firm C: $30
Firm D: $45
Transcribed Image Text: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 Dmitri: $35 Antonio: $50 Caroline: $40 Frances: $25 Each firm has the capacity to produce only one haircut. For efficiency, 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. Antonio Caroline should be given. Dmitri Frances The maximum possible total surplus is $ Firms' Costs Firm A: $25 Firm B: $40 Firm C: $30 Firm D: $45
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