If all personal trainers agree to charge $80 an hour, how do consumer surplus and producer surplus

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If all personal trainers agree to charge $80 an hour, how do consumer surplus and producer surplus change? What is the deadweight loss created?

The table shows the demand schedule for personal trainer services and the supply schedule of personal trainer services.

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Foundations Of Economics

ISBN: 9780135897478

9th Edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Dec 28, 2022 03:50 AM

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If all personal trainers agree to charge $80 an hour, how do consumer surplus and producer surplus

Question:

Price (dollars per hour) 0 20 40 60 80 100 Quantity demanded Quantity supplied (hours per day) 100 80 60 40 20 0 0 0 20 40 60 80

Step by Step Answer:

If the price is 80 a haircut the quantity of hours is 20 ...View the full answer

Foundations Of Economics

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