Problem P56.3.1 1/2 points (graded) The following table gives the willingness to pay for cars for eight individuals. There is a constant marginal cost of
Problem P56.3.1 1/2 points (graded) The following table gives the willingness to pay for cars for eight individuals. There is a constant marginal cost of 30 to produce a car. Assume there are no xed costs and that each individual chooses to either buy one car or zero. Person Willingness to Pay 50 45 42 32 20 17 1O 3 IOTmUOW> Calculate consumer and producer surplus under perfect competition
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