1. 11. Suppose there are 1,001 sellers with used cars that they value at

(i.e., their willingness to accept is) $0, $100, $200, $300, . . . ,

$9,900, $10,000. There are many buyers who place a higher value on each car than the current owners: $1,000 higher, to be exact.

For example, a car worth $3,700 to a seller would be worth $4,700 to a buyer. Find an equilibrium price. In other words, find a price at which it makes sense for buyers to buy, given what they know about the sellers.