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Econ 1 Summer 2021 Homework: Perfect Competition O Part 1 of 4 Question 1 Score: 0 of 1 point and The Invisible Hand (Ch. 7)

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Econ 1 Summer 2021 Homework: Perfect Competition O Part 1 of 4 Question 1 Score: 0 of 1 point and The Invisible Hand (Ch. 7) There are four consumers willing to pay the following amounts for an electric car: Consumer 1: Consumer 2: Consumer 3: Consumer 4: $60,000 $40,000 $70,000 $20,000 There are four firms that can produce electric cars. Each can produce one car at the following costs: Firm A: Firm B: Firm C: Firm D: $20,000 $80,000 $30,000 $40,000 Each firm can produce at most one car. Suppose we wanted to maximize the difference between consumers' willingness to pay for electric cars and the cost of producing those cars; that is, we wanted to maximize social surplus. We should produce electric cars. (Enter your response as an integer.)

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