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Problem # 4 Price (dollars per hot dog) 4 3 S = MC 2 D= MB 0 25 50 75 100 125 Quantity thot dogs

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Problem # 4 Price (dollars per hot dog) 4 3 S = MC 2 D= MB 0 25 50 75 100 125 Quantity thot dogs per year The figure above shows the market for hot dogs. a. What is the maximum price consumers are willing to pay for the 25th hot dog? b. What is the efficient quantity? c. Suppose that the production was limited to 25 hot dogs. In the figure, indicate the amount of the deadweight loss

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