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Q7. Please show me the full answers to all the 3 questions, from 1a to 1c , thank you! 13 10 13 13 15 13
Q7. Please show me the full answers to all the 3 questions, from 1a to 1c, thank you!
13 10 13 13 15 13 14 15 14 16 15 15 CO 14 15 17 14 16 V 17 16 18 17 17 18 17 19 18 18 19 18 20 19 19 20 19 21 20 20 16 20 22 16 Assuming that neither buyers nor sellers exercise monopoly power in the market describe the following: 1a) The competitive equilibrium price of the good X. (Hint: Plotting the values and costs for the buyers and sellers respectively as in a demand-supply model may be useful.) BI U X 2 ABC X2 E 12 pcThe following table describes the values and costs for 20 buyers and 20 sellers in the market. Each buyer and seller holds 1 unit of a fictitious good "X". Unit Value Buyer ID Unit Cost Seller ID 20 7 2 20 2 5 3 20 3 8 9 4 19 10 4 9 10 18 5 9 17 6 10 16 11 A A 15 17 W 9 14 N 12 N 10 13 10 13 1 11 12 11 11 13 11 12 11 12 12 14 12 13 10 13 13 15 13 14 15 14 16 15 15 .00 14 15 17 14 16 17 16 18 17 17 6 18 17 19 18 18 19 18 20 19 20 19 21 20 8'C AMMI ~ O1b) The competitive equilibrium quantity (traded) of good X. In other words, how many units are traded? A - BIU X 2 x2 ABC 123 D C H 1c) Which buyer(s) or seller(s) would derive the maximum (consumer/producer) surplus at the competitive equilibrium price? A BIU XZ x2 E ABC 123 D C O CHStep by Step Solution
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