1.6. What happened in Vernon Smith's lab? Choose the right answer: a. The price and quantity were...

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1.6. "What happened in Vernon Smith's lab? Choose the right answer:

a. The price and quantity were close to equi librium but gains from trade were far from the maximum.

b. The price and quantity were far from equilibrium and gains from trade were far from the maxin1um.

c. The price and quantity were far from equilibrium but gains from trade were close to the maximum.

d. The price and quantity were close to equi librium and gains from trade were close to the maximum.

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Modern Principles Macroeconomics

ISBN: 124428

2nd Edition

Authors: Tyler Cowen ,Alex Tabarrok

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Question Posted: Nov 16, 2024 12:00 AM

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1.6. What happened in Vernon Smith's lab? Choose the right answer: a. The price and quantity were...

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Modern Principles Macroeconomics

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