Scenario: Suppose a competitive market has ten buyers and ten sellers. The product exchanged in this market is beach hats, which are indivisible. The following table shows the reservation values for both buyers and sellers. Refer to the scenario above. Suppose the equilibrium price in this market is pareto efficient. What is the amount of social surplus in this market? Buyer Reservation Value of Seller Buyer (S) Reservation Value of Seller (S) Adam 15 Ken 1 Ben 14 Lena 2 Casey 13 Matt 4 Dan 12 Noah 6 Eva 11 Oscar 8 Frank 10 Pete 10 Gary 9 Quinn 12 Hank 8 Ray 14 lan 7 Sam 16 Jeff 6 Tina 18 ○ A) $44 O B) $30 OC) $15 O D) $39

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