The table below gives the demand and supply schedules for sandwiches. a. What is the maximum price
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The table below gives the demand and supply schedules for sandwiches.
a. What is the maximum price that consumers are willing to pay for the 200th sandwich?
b. What is the minimum price that producers are willing to accept for the 200th sandwich?
c. If 200 sandwiches a day are available, what is the total surplus?
Transcribed Image Text:
Price (dollars per sandwich) 0 1 3456N. 2 Quantity demanded (sandwiches 300 250 200 150 100 50 0 Quantity supplied per hour) 0 50 100 150 200 250 300
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