1.5. In the figure below, how many pounds of ugar are sellers willing to sell at a...

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1.5. In the figure below, how many pounds of ugar are sellers willing to sell at a price of $20? How much is demanded at this price? What is the buyer's willingness to pay when the quantity is 20 lb? Is this combination of $20 per pound and a quantity of 20 lb an equilibrium? If not, identifY the unexploited gains from trade.

Price of sugar per pound 20 20 30 40 Quantity of sugar

(in lb)

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