Suppose the market for giant cinnamon rolls consists of buyers and sellers at each of the following prices: Price for buyers Number of buyers Price for sellers Number of sellers $10 $10 $9 6. $9 8 $8 $8 $7 8 $7 6. $6 9. $6 $5 10 $5 4. Assume that each seller sells at most one giant cinnamon roll to one buyer, so that for a transaction to occur, one seller mus match up with one buyer. If the price is $5, there is an excess of which will cause the price to sellers; decrease buyers; decrease sellers; increase buyers; increase
Suppose the market for giant cinnamon rolls consists of buyers and sellers at each of the following prices: Price for buyers Number of buyers Price for sellers Number of sellers $10 $10 $9 6. $9 8 $8 $8 $7 8 $7 6. $6 9. $6 $5 10 $5 4. Assume that each seller sells at most one giant cinnamon roll to one buyer, so that for a transaction to occur, one seller mus match up with one buyer. If the price is $5, there is an excess of which will cause the price to sellers; decrease buyers; decrease sellers; increase buyers; increase
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 10QP
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Please see the image below. I believe I have the right answer but I would like to have a second lookover.
![Question 3 of 3
Suppose the market for giant cinnamon rolls consists of buyers and sellers at each of the following prices:
Price for buyers Number of buyers Price for sellers Number of sellers
$10
$10
9.
$9
6.
$9
8.
$8
7
$8
7.
$7
8.
$7
6.
$6
9.
$6
$5
10
$5
Assume that each seller sells at most one giant cinnamon roll to one buyer, so that for a transaction to occur, one seller must
match up with one buyer. If the price is $5, there is an excess of _, which will cause the price to
O sellers; decrease
O buyers; decrease
O sellers; increase
buyers; increase
4-](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5b9a19ab-f166-41e1-9a74-9d2d463ec7e1%2F0fcb15b9-009e-4997-93d6-5977610b9c02%2F06f9djn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 3 of 3
Suppose the market for giant cinnamon rolls consists of buyers and sellers at each of the following prices:
Price for buyers Number of buyers Price for sellers Number of sellers
$10
$10
9.
$9
6.
$9
8.
$8
7
$8
7.
$7
8.
$7
6.
$6
9.
$6
$5
10
$5
Assume that each seller sells at most one giant cinnamon roll to one buyer, so that for a transaction to occur, one seller must
match up with one buyer. If the price is $5, there is an excess of _, which will cause the price to
O sellers; decrease
O buyers; decrease
O sellers; increase
buyers; increase
4-
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