Suppose Musashi is the only seller in the market for bottled water and Jacques is the only buyer. The following lists show the value Jacques places on a bottle of water and the cost Musashi incurs to produce each bottle of water: Jacques's Value Musashi's Costs Value of first bottle: $10 Cost of first bottle: $1 Value of second bottle: $7 Cost of second bottle: $3 Value of third bottle: $3 Cost of third bottle: $7 Value of fourth bottle: $1 Cost of fourth bottle: $10 The following table shows their respective supply and demand schedules: Price Quantity Demanded Quantity Supplied $1 or less $1 to $3 $3 to $7 N $7 to $10 More than $10 A