Question
Refer to the table below. (1) Person Bashir Barb Bill Beeja Brent (2) Maximum Price Willing to Pay (-MB) $ 21 16 14 12
Refer to the table below. (1) Person Bashir Barb Bill Beeja Brent (2) Maximum Price Willing to Pay (-MB) $ 21 16 14 12 10 8 (3) Actual Price (Equilibrium Price) $ 14 14. 14 14 14 14 Blessing If the six people listed in the table are the only consumers in the market, and the equilibrium price is $14, how much consumer surplus will the market generate? Instructions: Enter your answer as a whole number. Total consumer surplus = $|
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Microeconomics Principles, Problems and Policies
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
20th edition
978-0077660819, 77660811, 978-1259450242
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