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Suppose Elizabeth and Corey have already exchanged one unit of the good. For the second unit of the good Elizabeth buys, the maximum price she
Suppose Elizabeth and Corey have already exchanged one unit of the good. For the second unit of the good Elizabeth buys, the maximum price she would pay is dollars. For the second unit of the good Corey sells, the minimum price he would accept is dollars. If they exchange a second unit of the good at a price of $5, Elizabeth benefits herself dollars and Corey benefits himself dollars.People who might buy Price Bernie Tulsa Elizabeth Michael Amy Pete Market Demand 10 0 0 0 0 1 2 A 9 0 2 8 B 8 0 2 5 7 9 C 7 1 2 3 6 8 10 D 6 1 2 3 6 9 10 E UT 1 3 6 9 11 F 4 7 9 11 G W D 4 7 12 H IN 1 2 7 7 10 12 1 1 2 8 10 12 K People who might sell Price Deval Michael Patrick Corey Kamala |Marianne Market Supply 10 2 2 8 8 11 23 9 2 8 10 12 M 8 2 7 7 10 12 N 4 12 P 2 4 9 11 5 6 9 11 R 4 w INN 6 8 10 S IN 7 4 CO N IN 0 0 0 0 1 2 W
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