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The table below shows how much five consumers are willing to pay for Taco House's specialty taco. Each person is willing to consume 2 tacos
The table below shows how much five consumers are willing to pay for Taco House's specialty taco. Each person is willing to consume 2 tacos at the most. Calculate the economic surplus. Assume Taco House has a marginal cost of $1.80 for each taco.
Willingness to Pay For the 1st For the Consumer Taco 2nd Taco Harriet $5.00 $4.50 Larry $5.50 $4.85 Mayra $5.25 $4.65 Shelly $4.75 $4.35 Tim $4.50 $3.25Step by Step Solution
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