Look at the tables below, which show, respectively, the willingness to pay and willingness to accept of buyers and sellers of individual bags of oranges. For the following questions, assume that the equilibrium price and quantity will depend on the indicated changes in supply and demand. Assume that the only market participants are those listed by name in the two tables.
Bob $17 $10 Carlos $5
Barb 14 10 Courtney 6
Bill 13 10 Chuck 7
Bart 12 10 Cindy 8
Brent 11 10 Craig 9
Betty 10 10 Chad 10
a. Given the equilibrium price of $10, what is the equilibrium quantity given the data above?
Answer: 6 bags
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Fill in the blank(s) with the appropriate word(s).