Question
In the market for lightly pre-owned masks, there are three sellers and three buyers, each interested in a one-to-one transaction. The sellers have willingness-to-sell prices
In the market for lightly pre-owned masks, there are three sellers and three buyers, each interested in a one-to-one transaction. The sellers have willingness-to-sell prices at $6, $1, and $5 respectively. Conversely, the buyers have a willingness-to-pay of $7, $8, and $4 respectively. Edit: The buyers and sellers are in no particular order; you may imagine them matching in any order you like. A. Determine the maximum total surplus that can be achieved from exchanges in this market. Assume that each participant will only engage in one exchange, total (one purchase or one sale, not both). Edit: Assume they can engage in at most one exchange (so, zero or one exchanges per participant).
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