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pickupchik [31]
3 years ago
12

Suppose you decide to follow in Vernon Smith's footsteps and conducted your own experiment with your friends. You give out 10 ca

rds, 5 cards to buyers with the figures for willingness to pay of $1, $2, $3, $4, and $5, and 5 cards to sellers with the amounts for costs of $1, $2, $3, $4, and $5. The rules are the same as Vernon Smith implemented. a. Draw the supply and demand curves for this market. At a price of $3.50 how many units are demanded and supplied

Business
1 answer:
lukranit [14]3 years ago
3 0

Answer:

Answer is given below.

Explanation:

The given graph shows the demand and supply curves.

At the price of $3.50, we can see that the demand will be less than 3 units, which means, that the demand will be only 2 units.

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Answer:

$19,462

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Business exists as the activity of creating one's living or earning money by producing or buying and selling products. It stands also for "any activity or enterprise joined into for profit.".

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A business plan stands as a very significant and strategic tool for entrepreneurs. A good business plan not only allows entrepreneurs to focus on the specific actions essential for them to create business concepts succeed, but it also enables them to achieve short-term and long-term purposes.

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