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please answer The tables below show reservation values of buyers and sellers in a market. There are three buyers and two sellers. Each buyer's reservation
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The tables below show reservation values of buyers and sellers in a market. There are three buyers and two sellers. Each buyer's reservation values for the fourth unit and above are negative, and each seller can produce at most four units. Buyers' Reservation Values Buyer 1 Buyer 2 Buyer 3 First unit 65 35 65 Second unit 50 25 35 Third unit 25 0 25 Sellers' Reservation Values Seller 1 Seller 2 First unit S 5 Second unit 10 10 Third unit 45 30 Fourth unit 60 45 16) Refer to the tables above. What is the range of equilibrium prices? What is the equilibrium 16) quantity? A) $25 and $30; 4 units B) $30 and $35; 5 units C) $35 and $45: 6 units D) $25 and $45: 5 unitsStep by Step Solution
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