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Suppose There Are 11 Buyers and 11 Sellers,each Willing to Buy

Question 3

Multiple Choice

Suppose there are 11 buyers and 11 sellers,each willing to buy or sell one unit of a good,with values {$14,$13,$12,$11,$10,$9,$8,$7,$6,$5,$4,}.Assume no transaction costs and a competitive market,what is the equilibrium price in this market?​


A) ​7
B) 8
C) 9
D) ​10

Correct Answer:

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