Home Grades Personalized Reviews Discussion Course Materials zing Equilibrium Pr

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Home Grades Personalized Reviews Discussion Course Materials zing Equilibrium Price and Quantity Experiment Assignment | Back to Assignment Due Tuesday 09.11.18 at 11: n of your friends are about to take a course, and each one is interested in buying one used textbook. Another 11 of your friends already taken the course and are willing to consider selling their books pose that each friend tells you his or her buyer value or seller cost. They ask you to figure out how to arrange all the trades. Becau have taken an economics course, you sort the buyer values in decreasing order so you can plot a demand curve and you sort the er costs in increasing order so you can plot a supply curve. eller Seller Cost Stuart Loela Cheryl Buyer Buyer Value Charles Anand Sam Mica Todd Mark Peter Sven Amy Jordan Kern $4 $6 $8 $10 $12 $24 $20 $18 $16 $14 112 $10 $8 $6 $4 Christine $14 Mary$16 Saul $18 Rajee$20 Jessica Ramin $22 1.6. Suppose that people who are indifferent about trading do, in fact, go ahead and trade. Under this convention, what is the bout the number of books that should change hands at the equlbrium prediction from the supply and demand model a price? A.2 B. 6 D. S Continue without saving

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ANSWER:

The correct answer is 6 because at equilibrium price of $14 only mark , todd , mica , sam , anand , charles are willing to buy the books as seen from the table.

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