Using the tables in Check Your Understanding 4-1 and 4-2, find the equilibrium price and quantity in
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Using the tables in Check Your Understanding 4-1 and 4-2, find the equilibrium price and quantity in the market for cheese-stuffed jalapeno peppers. What is total surplus in the equilibrium in this market, and who receives it?
Data from Table 4-1
Data from Table 4-2
Transcribed Image Text:
Quantity of peppers 1st pepper 2nd pepper 3rd pepper 4th pepper Casey's willingness to pay $0.90 0.70 0.50 0.30 Josey's willingness to pay $0.80 0.60 0.40 0.30
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