ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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The market for used phones is perfectly competitive. The Marginal Willingness to pay (MWTP) and the Marginal Costs (MC) for the buyers and sellers in used phon
market are given in the table below.
If they buy a phone, each buyer purchases only 1 phone. If they sell a phone, each seller sells only 1 phone.
What is Total Surplus in the used phone? Remember all market trades are voluntary.
Enter a number only. Do not enter the $ sign.
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