Business, 27.02.2020 22:55, FromTheDeskOfLauren

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 $18 Carlos $5
Barb 16 Courtney 7
Bill 14 Chuck 9
Bart 12 Cindy 11
Brent 10 Craig 13
Betty 8 Chad 15

(a) What Is the total surplus if Bob buys a unit from Carlos?
(b) What is the total surplus if Barb buys a unit from Courtney?

Answers: 3

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Look at the two tables below. What is the total surplus if Bob buys a unit from Carlos? If Barb buys...