SELLER - Market Closed My Summary Orders Transactions Unit Cost Price Profit $0.50 $143 $0.93 50.65 IN $0.75 $140 $1.00 $1.26 50.26 Total Profit: $1.84 SELLER - Market Closed My Summary Orders Transactions Trader # Price Action Status Time 20 5 $1.30 Buy OPEN 00:33 21 $1.41 Buy OPEN 00:37 22 2 $1.41 Sell FILLED 00:59 23 5 $1.23 Buy OPEN 01:04 24 3 $1.25 Buy OPEN 01:08 25 $1.27 Buy OPEN 01:09SELLER - Market Closed My Summary Orders Transactions # Price Buy Bid# Sell Bid# Time $1.43 11 12 00:21 $1.40 13 14 00:23 $1.26 15 16 00:26 $141 21 22 00:59 Based on the outcome of the simulation, was the sale price you set the same as the equilibrium price? Refer to the supply and demand model to explain why they might be different. Imagine that you own your own business. How would price elasticity of demand impact the pricing decisions of your business? What are the determinants of price elasticity of demand? Identify at least three examples