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eennuson eennuson
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A year ago
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
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Macroeconomics

Macroeconomics


Edition: 3rd
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lucypierce86lucypierce86
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