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Market Exchange and Price Controls The table below shows the marginal values for product X for five different individuals, A - E. The values are

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Market Exchange and Price Controls The table below shows the marginal values for product X for five different individuals, A - E. The values are all in dollars. This table will be used to answer questions 1 - 10. For each question, assume that all transaction costs are zero and that when indifferent, sellers will sell and buyers will buy the marginal unit. Read each question carefully and make sure you understand the market conditions before answering. 10 32 10 16 10 4 10 24 10 12 11 24 11 12 11 0 11 20 11 8 1. In the beginning, A has 4 units of X, B has 6, C has 3, D has 1 and E has 5. a. If they trade, what will be the equilibrium price? b. In equilibrium, how many units of X will each person own

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