Look at the two tables below. What is the total surplus if Bob buys a unit from Carlos? If Barb buys a unit from Courtney? If Bob buys a unit from Chad? If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved?
Person Maximum
Price Willing
to Pay Person Minimum Acceptable Price Bob $21 Carlos $5 Barb 16 Courtney 7 Bill 14 Chuck 9 Bart 12 Cindy 11 Brent 10 Craig 13 Betty 8 Chad 15
Instructions: Enter a whole number as your answer.
What is the total surplus if Bob buys a unit from Carlos?
$
Instructions: Enter a whole number as your answer.
What is the total surplus if Barb buys a unit from Courtney?
$
Instructions: Enter a whole number as your answer.
What is the total surplus if Bob buys a unit from Chad?
$
Instructions: Enter a whole number as your answer.
If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved?
$
Look at the two tables below. What is the total surplus if Bob buys a unit from Carlos? If Barb buys a unit from Courtney? If Bob buys a unit from Chad? If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved?
Person | Maximum Price Willing to Pay | Person | Minimum Acceptable Price | |
Bob | $21 | Carlos | $5 | |
Barb | 16 | Courtney | 7 | |
Bill | 14 | Chuck | 9 | |
Bart | 12 | Cindy | 11 | |
Brent | 10 | Craig | 13 | |
Betty | 8 | Chad | 15 |
Instructions: Enter a whole number as your answer.
What is the total surplus if Bob buys a unit from Carlos?
$
Instructions: Enter a whole number as your answer.
What is the total surplus if Barb buys a unit from Courtney?
$
Instructions: Enter a whole number as your answer.
What is the total surplus if Bob buys a unit from Chad?
$
Instructions: Enter a whole number as your answer.
If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved?
$