At the beginning of the school year, used couches are in high demand among State University...

 

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At the beginning of the school year, used couches are in high demand among State University freshman living on the sixth floor of Beta Dormitory. Fortunately for the freshman, the upperclassmen moving off of the sixth floor are very willing to sell their used couches. Answer the following questions about the sixth floor used-couch market. Extra points for graphical representation of CS and PS. (a) ( 2 pts). Complete the table below containing the market demand for used couches on the sixth floor. What is the total consumer surplus (CSY? Complete table and shade graph indicting CS. Maximum Equilbrium Consumer price Pe 50 surplus Freshman price willing to pay 40 20 Emily 90 $50-pr- Pedro 70 50 Natalie 50 50 (b) ( 2 pts). Complete the table below containing the market supply for used couches on the sixth floor, What is the total producer surplus (PS)? Complete table and shade graph indicting PS? Equilibriu Producer m price surplus Minimum Upperclass acceptable price man $50=P- Cho 30 50 Susie 40 50 Angie 50 50 At the beginning of the school year, used couches are in high demand among State University freshman living on the sixth floor of Beta Dormitory. Fortunately for the freshman, the upperclassmen moving off of the sixth floor are very willing to sell their used couches. Answer the following questions about the sixth floor used-couch market. Extra points for graphical representation of CS and PS. (a) ( 2 pts). Complete the table below containing the market demand for used couches on the sixth floor. What is the total consumer surplus (CSY? Complete table and shade graph indicting CS. Maximum Equilbrium Consumer price Pe 50 surplus Freshman price willing to pay 40 20 Emily 90 $50-pr- Pedro 70 50 Natalie 50 50 (b) ( 2 pts). Complete the table below containing the market supply for used couches on the sixth floor, What is the total producer surplus (PS)? Complete table and shade graph indicting PS? Equilibriu Producer m price surplus Minimum Upperclass acceptable price man $50=P- Cho 30 50 Susie 40 50 Angie 50 50

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Req a Max price willing Equilibrium Consumer Fr... View the full answer