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8. Problems and Applications Q8 There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the
8. Problems and Applications Q8 There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: Consumers' Willingness to Pay Firms' Costs Jake: $45 Firm A: $40 Nick: $25 Firm B: $20 Rosa: $15 Firm C: $10 Latasha: $35 Firm D: $30 Each firm has the capacity to produce only one haircut. For efficiency, Y should be given. Which businesses should cut hair? Check all that apply. [3 Firm A C] Firm B C] Firm c [3 Firm D 8. Problems and Applications Q8 There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: Consumers' Willingness to Pay Firms' Costs Jake: $45 Firm A: $40 Nick: $25 Firm B: $20 Rosa: $15 Firm C: $10 Latasha: $35 Firm D: $30 Each firm has the capacity to produce only one haircut. For efficiency, V should be given. 0 haircuts which busines hair? Check all that apply. 1 haircut C] Firm 2 haircuts C] Firm 3 haircuts C] Firm 4 haircuts C] Firm Which consumers should have their hair cut? Check all that apply. O Jake O Latasha Nick O Rosa The maximum possible total surplus is $
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