The table gives the demand and supply schedules for sandwiches. a. What is the maximum price that

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The table gives the demand and supply schedules for sandwiches.

a. What is the maximum price that consumers are willing to pay for the 200th sandwich?
b. What is the minimum price that producers are willing to accept for the 200th sandwich?
c. If 200 sandwiches a day are available, what is the total surplus?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 07:01 AM

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The table gives the demand and supply schedules for sandwiches. a. What is the maximum price that

Question:

Quantity demanded Quantity supplied Price (dollars per sandwich) 0 300 250 200 150 100 50 0 (sandwiches per hour) 0 50 100 150 200 250 300 6

Step by Step Answer:

a The demand schedule shows the maximum price that consumers will pay for each sandwich The maximum ...View the full answer

Microeconomics

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