Personalized Reviews Discussiorn Course Matérials Extra Credit Analyzing Equilib

Question

Personalized Reviews Discussiorn Course Matérials Extra Credit Analyzing Equilibrium Price and Quantity Graded Assignment | Due Tuesday 12.12.17 at 1 Eleven of your friends are about to take a course, and each one is interested in buying one used textbook. Another 11 of your frien have already taken the course and are willing to consider selling their books. Suppose that each friend tells you his or her buyer valtue or seller cost. They ask you to figure out how to arrange all the trades. Beca you have taken an economics course, you sort the buyer values in decreasing order so you can plot a demand curve and you sort the seller costs in increasing order so you can plot a supply curve. Buyer Buyer Value Seller Seller Cost Stuart Charles Anand Sam Mica Todd Mark Peter Sven Amy Jordan Kerri $24 $22 $20 $18 $16 $14 $12 $10 $8 $6 $4 Lücy Christine Mary Soul Rajeey Jessica $4 $6 $8 $10 $12 $14 116 $18 $20 Joe $24 1.5. For these buyer values and seller costs, the supply and demand model predicts that the price will be: O A. $14 B. S24 0 D. $12

Explanation / Answer

Answer is 14 dollar. The supply is exactly opposite of demand curve. Both curves meet at middle price which is 14 here

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