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please see below... Suppose Brian Is the only seller In the market for bottled water and Tim is the only buyer. The following lists show

please see below...

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Suppose Brian Is the only seller In the market for bottled water and Tim is the only buyer. The following lists show the value Tim places on a bottle of water and the cost Brian incurs to produce each bottle of water: Tim's Value Brian's Costs Value of rst bottle: $10 Cost of first bottle: $1 Value of second bottle: $7 Cost of second bottle: $3 Value of third boule: $3 Cost of third bottle: $7 Value of fourth bote: $1 Cost of fourth bottle: $10 The following table shows their respective supply and demand schedul: Price Quantity Supplled Quantity Demanded More than $10 4 0 $7 to $10 3 1 $3 to $7 2 2 $1 to $3 1 3 $1 or less 0 4 Use Brian's supply schedule and Tim's demand schedule to nd the quantity supplied and quantity demanded at prices of $2, $6, and 39. Enter thae values in the following table. Price Quantity Supplied Quantity Demanded 2 S E 6 I: I: 9 I: I: A price of v brings supply and demand into equilibrium. At the equilibrium price, consumer surplus is , producer surplus is , and total surplus is . If Brian produced and Tim consumed one less bottle of water, total surplus would v . If instead, Brian produced and Tim consumed one additional bottle of water, total surplus would V

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