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Examine the table at the following link, which shows what four consumers are willing to pay for a haircut:Consumer Willingness to Pay Table. The next
- Examine the table at the following link, which shows what four consumers are willing to pay for a haircut:Consumer Willingness to Pay Table.
The next link includes a table that shows what four businesses charge for a haircut:Business Charge Table.
Each business can produce no more than one haircut.
- In the most efficient world, which companies should cut hair and which customers should get a haircut? (Note: It might be less than four.)
- How large is the maximum possible total surplus and what is the least possible surplus?
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