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Table 1: Distribution of suppliers (by seller cost) and demanders (by buyer value) in session 1 Seller Cost Number of Sellers Buyer Value Number of

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Table 1: Distribution of suppliers (by seller cost) and demanders (by buyer value) in session 1 Seller Cost Number of Sellers Buyer Value Number of Buyers $10 4 $20 3 $20 NUI W $30 $30 $40 $40 $50 NW O Table 2: Distribution of suppliers (by seller cost) and demanders (by buyer value) in session 2 Seller Cost Number of Sellers Buyer Value Number of Buyers $10 6 $20 $20 $30 $30 NUIN $40 $40 $50 A ANW 5. Supply and Demand Schedules. Please refer to Tables 1 and 2 above. Table 1 shows the distribution of suppliers and demanders by their seller costs or buyer values in session 1. Table 2 shows the distribution of suppliers and demanders in session 2. Using the information given in Tables 1 and 2, please fill in the following supply and demand schedules for the two sessions. Remember that everyone had to make at least $1 profit from a trade. Use Table 1 to fill in the supply and demand schedules for Session 1. Supply Schedule for Session 1 Range of prices Quantity willing to P) be Supplied Demand Schedule for Session 1 Qsupplied) Use P$49 supply 0 P2$21 and Ps$49 and P$39 P2$31 and Ps$39 and P$29 P2$41 14 Ps$29 and demand schedules for Session 2. P>$19 Supply Schedule for Session 2 | PS$19 14 Range of prices Quantity willing (P) to be Supplied Demand Schedule for Session 2 Qsupplied) P$49 0 P2$21 and Ps$49 and P$39 P2$31 and PS$39 and P$29 Pz$41 15 Ps$29 and P>$19 PS$19 13

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