Suppose that all salons agree to charge $40 a haircut. How do consumer surplus and producer surplus
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Suppose that all salons agree to charge $40 a haircut. How do consumer surplus and producer surplus change? What is the deadweight loss created?
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TABLE 1 Price (dollars per haircut) 0 10 20 30 40 50 Quantity demanded (haircuts 100 80 60 40 20 0 supplied per day) 0 0 20 40 60 80
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