Question :

Please help me with the full answers to 2a and 2b, 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 pc10 0 0 08 0 020 0 0 0200300-003090 A per-unit tax of $2 is imposed on sellers by the government in the market described in Question 1 (above). In other words, the tax would be collected from the sellers for each traded unit. Assuming that neither buyers nor sellers exercise monopoly power in the market describe the following: 2a) 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.) A - BIU XZ X2 ABC 123 Report ques 2b) The competitive equilibrium quantity (traded) of good X A- BIU X X2 E evigilation.monash.eduJETER 080FH. O 9 9 8'C HIDA ~2c) Which buyer(s) or seller(s) would derive the maximum (consumer/producer) surplus at the competitive equilibrium price? - --- --- -- A B IU X 2 x2 E E E E ABC 123 D G evigilation.monash.eduLE(#1980#8 2 Notes O 9 MISTThe 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 ~ O