What is the value captured by all sellers?
Use the following data to answer all of the remaining questions. Consider a commodity market where the products provided by all sellers are identical.
A group of 12 potential buyers in this market have willingness to pay (WTP) as follows (in random order): $65, $60, $55, $80, $70, $30, $20, $55, $10, $45, $40, and $15.
A group of potential suppliers serving this market have wiliness to accept (WTA) as follows (also in random order): $20, $25, $30, $10, $45, $50, $55, $15, $20, $30, $40, and $60.
- What is the value captured by all sellers?
Buyers
2. What is the value captured in this market by an individual buyer with WTP = $80?
3. What is the total
Value added
4. What is the value added for the supplier with a WTA (willingness to accept) of $15?
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