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Exercise 5.11. The tabze gives the supply schedules of hot air balloon rides for the only sellers in the market, Xauier, Yasmin, and Zach. Price

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Exercise 5.11. The tabze gives the supply schedules of hot air balloon rides for the only sellers in the market, Xauier, Yasmin, and Zach. Price Quantity supplied (dollars {rides Er week! per ride) Xavier Yasmin Zack 100 30 25 20 90 25 20 15 80 20 15 10 70 15 10 5 60 10 5 0 50 5 0 0 40 0 0 0 Figure 5.8 (a) Construct the market supply schedule. (b) What are the minimum prices that Xavier, Yasmin, and Zach are willing to accept to supply 20 rides? Whyi2 (c) What is the marginal social cost when the total number of rides is 30'? (d) What is the marginal cost for each supplier when the total number of rides is 30 and how many rides does each of the rms supply? (e) When the price is $70 a ride, what is each firm' 5 producer surplus? What is the market producer surplus

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