Your Friend Has Just Received a New Book He Ordered,and

Essay

Your friend has just received a new book he ordered,and you want to borrow it.Your friend values reading the book at $10,while you are willing to pay a maximum amount of $15 to read it.
a)What is the equilibrium outcome in this case?
b)Will the outcome be any different if you own a book that your friend wants to read? Assume that the value that each of you places on this book is the same as what you placed on the previous book.