2. Suppose there are nine sellers and nine buyers, each willing to buy or sell one unit...
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2. Suppose there are nine sellers and nine buyers, each willing to buy or sell one unit of a good, with values {$10, $9, $8, $7, $6, $5, $4, $3, $2}. Assuming no transactions costs and a competitive market, what is the equilibrium price in this market?
a. $5
b. $6
c. $7
d. $8
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Related Book For
Managerial Economics A Problem Solving Approach
ISBN: 9780324359817
1st Edition
Authors: Luke M. Froeb, Brian T. McCann
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