The market for used phones is perfectly competitive. The Marginal Willingness to pay (MWTP) and the Marginal Costs (MC) for the buyers and sellers in used phone market are given in the table below. If they buy a phone, each buyer purchases only 1 phone. If they sell a phone, each seller sells only 1 phone. What is Total Surplus in the used phone? Remember all market trades are voluntary. Enter a number only. Do not enter the $ sign. Buyer MWTP Seller MC A $346 U $871 B $689 V $428 C $222 W $228 D $933 X $455 $394 Y $715 $738 Z $926

The market for used phones is perfectly competitive. The Marginal Willingness to pay (MWTP) and the Marginal Costs (MC) for the buyers and sellers in used phone market are given in the table below. If they buy a phone, each buyer purchases only 1 phone. If they sell a phone, each seller sells only 1 phone. What is Total Surplus in the used phone? Remember all market trades are voluntary. Enter a number only. Do not enter the $ sign. Buyer MWTP Seller MC A $346 U $871 B $689 V $428 C $222 W $228 D $933 X $455 $394 Y $715 $738 Z $926

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter3: Market Demand And Supply

Section3.7: A Market Supply And Demand Analysis

Problem 1GE

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i dont know where the boxes go or the price mark. the cosumer surplus too.
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