In the figure below, how many pounds of sugar 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. ph2

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Price of sugar per pound Supply $45 20 20 30 Demand 40 Quantity of sugar (in lb)