A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. If the market maker wants to make three transactions, what should he ask (the buyers)
a. $12
b. $13
c. $14
d. $15
b
Economics
You might also like to view...
Population density varies little between the 50 states.
Answer the following statement true (T) or false (F)
Economics
Classical economists think that lump-sum tax changes
A) should be used to smooth business cycles. B) have a powerful effect on the economy. C) affect aggregate demand after a lag. D) have no effect because of Ricardian equivalence.
Economics
The main difficulty in applying marginal analysis is
a. calculating total cost b. determining which costs and revenues are relevant to a particular decision c. calculating average cost d. All of the above
Economics
The United States is a mixed economy because there is a ______________________ sector and a _______________ sector.
Fill in the blank(s) with the appropriate word(s).
Economics