There are four consumers willing to pay the following
Chapter , Problem 8(choose chapter or problem)
There are four consumers willing to pay the following amounts for haircuts:Gloria: $7 Jay: $2 Claire: $8 Phil: $5there are four haircutting businesses with the follow-ing costs:Firm a: $3 Firm B: $6 Firm C: $4 Firm D: $2Each firm has the capacity to produce only one haircut. For efficiency, how many haircuts should be given? Which businesses should cut hair and which consumers should have their hair cut? How large is the maximum possible total surplus?
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