c. How does the use of hand signals affect transactions costs? 2. If you were a supplier, did you find that you were competing against the demander when you were trying to make a trade, or against other suppliers? Or, if you were a demander, were you competing against the seller, or other demanders? 3. Sometimes people refer to markets as information machines. What information did you have as an individual market participant at the beginning of a session? As you traded, what information did the market process provide you about market conditions? That is, as you were trading, what information were you able to discover and how did it help you