[See Steps] Price Quantity Demanded I Quantity Supplied ($ per hamburger) (Hamburgers per day) 0 500 0 1 450 50 2 400 100 3 350 150 4 300 200 5 250 250

Question:

Price	Quantity Demanded	I Quantity Supplied
($ per hamburger)	(Hamburgers per day)
0	500	0
1	450	50
2	400	100
3	350	150
4	300	200
5	250	250
6	200	300
7	150	350
8	100	400
9	50	450
10	0	500

Answer the following questions with respect to the table above

What is the minimum price that suppliers are willing to accept for the 150th hamburger?
What is the maximum price that consumers are willing to pay for the 150th hamburger?
What is the level of efficient quantity?
What is the Consumers surplus? What is the Producers surplus? Assume efficiency of markets.
At 150 hamburgers what is the deadweight loss?

Price: $2.99

Solution: The downloadable solution consists of 3 pages
Deliverable: Word Document

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[See Steps] Price Quantity Demanded I Quantity Supplied ($ per hamburger) (Hamburgers per day) 0 500 0 1 450 50 2 400 100 3 350 150 4 300 200 5 250 250

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