We\'ll use the example of an experiment like yours, but with slightly different

Question

We'll use the example of an experiment like yours, but with slightly different numbers of buyers and sellers. In our example, there are 10 buyers and 10 sellers. Each of the buyers is willing to pay $100 for a high-quality MP3 player and $65 for a low-quality player. Each of the sellers can choose to produce high-quality players at a cost of $85 each or low-quality players at a cost of $55 each. 13. In fact, regardless of what price a low-quality MP3 player is sold for. the total gain (that is, the sum of the buyer gain and the seller gain) will be. Therefore, if all 10 buyers bought low-quality MP3 players, the total aggregate gain would be. A. $15; $150 B. $25; $250 C. $20: $200 D. $10; $100

Explanation / Answer

C. $20, $200

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