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The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $52, $50, $40,
The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $52, $50, $40, $36, and $26 (one seller at each price). Five buyers are willing to buy one widget at the following prices: $12, $24, $26, $36, and $40 (one buyer at each price).
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