1. why is scarcity a significant problem? a. it leads to opportunity cost. b. it forces people to make choices. c. it determines the type of economic system used. 2. why do business owners have to answer the three economic questions? a. the answers are something banks want when they review a business plan. b. the answers determine the best way to use their resources c. the answers are required by federal law

8. problems and applications q8there are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: consumers' willingness to payyvette: $35cho: $15sean: $45bob: $25firms' costsfirm a: $40firm b: $20firm c: $10firm d: $30each firm has the capacity to produce only one haircut.for should be given.which businesses should cut hair? check all that apply.firm afirm bfirm cfirm dwhich consumers should have their hair cut? check all that apply.bobchoseanyvettethe maximum possible total surplus is