Micro Economics For Today
Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Chapter 9, Problem 16SQ
To determine

 The purchase of commodity and sale at a higher price in another market.

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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 makes three transactions, what is his total profit? a. $12 b. $15 C. $18 d. $21
Buyers as a group determine supply, and sellers as a group determine the demand of the product a. True b. False
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