There are four hospitals (consumers in this example) willing to pay the following amounts for a ventilator: Hospital Z Hospital W $110,000 Hospital X $40,000 $70,000 Hospital Y $15,000 There are producers that can produce at most one ventilator each and at the following costs: Producer A $15,000 Producer B $30,000 Producer C $60,000 Producer D $10,000 What is the most surplus that can be realized if only one ventilator can be produced? Which firm should produce it, and which hospital should consume it? If only one ventilator can be produced, it should be made by Producer resulting in a maximum surplus of $. (Enter your answer as a whole and consumed by Hospital

There are four hospitals (consumers in this example) willing to pay the following amounts for a ventilator: Hospital Z Hospital W $110,000 Hospital X $40,000 $70,000 Hospital Y $15,000 There are producers that can produce at most one ventilator each and at the following costs: Producer A $15,000 Producer B $30,000 Producer C $60,000 Producer D $10,000 What is the most surplus that can be realized if only one ventilator can be produced? Which firm should produce it, and which hospital should consume it? If only one ventilator can be produced, it should be made by Producer resulting in a maximum surplus of $. (Enter your answer as a whole and consumed by Hospital

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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