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Author Question: The graph shows the market for miles of taxi service per day in Chicago. Assume that P1=$2.00, ... (Read 19 times)

Austinleez3

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on: Nov 23, 2022
The graph shows the market for miles of taxi service per day in Chicago.
 

Assume that P1=$2.00, P2=$4.75, P3=$6.50, P4=$11.75, P5=$20.00, Q1=25, Q2=160, and Q3=235. The city limits the number of taxi medallions to 5. These taxis can service 25 miles per day. What price will be charged for each mile of taxi service? At this price, consumer surplus is ________, producer surplus is ________, and the deadweight loss is ________. Please round your answer to two decimal places.
◦ $11.75, $103.13, $209.38, $472.50
◦ $11.75, $103.13, $34.38, $209.38
◦ $4.75, $278.13, $34.38, $472.50
◦ $4.75, $278.13, $209.38, $472.50
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by Austinleez3 on Nov 23, 2022

lhn821

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Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Austinleez3

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Reply 2 on: Nov 23, 2022
YES! Correct, THANKS for helping me on my review

nathang24

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Reply 3 on: Yesterday
Wow, this really help

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