Business, 19.06.2020 00:57 holasoykawaii10

You are thinking about renting a room in a house next year with three of your friends. For each month’s rent, you are willing to pay $480, your first friend is willing to pay $450, your second friend is willing to pay $560, and your third friend is willing to pay $510. The landlord agrees to offer each of you separate leases but will charge you all the same price: $450.You decide this is a good deal, so you and your friends move in. A couple of months later, you learn from someone who knows the landlord that he would have been willing to rent each room for $400 per month. Part 1:What is the amount of producer surplus per month?PART 2:What is the amount of total consumer surplus per month?PART3:What is the amount of total surplus each month?

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You are thinking about renting a room in a house next year with three of your friends. For each mont...

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