Answer:
A B C D E F G H I
Buyer Willingness $35 $33 $27 $22 $21 $13 $13 $12 $6
to pay for one unit
A B C D E F G H I
Seller Willingness $4 $9 $12 $14 $15 $21 $23 $30 $51
to sell one unit
A) The quantity demanded at a price of $10 is <u>8</u> (A, B, C, D, E, F, G, H)
$10 IS LOWER THAN THE MAXIMUM PRICE THAT 8 CONSUMERS WERE WILLING TO PAY.
The quantity supplied at a price of $10 is <u>2</u> (A, B)
ONLY TWO SUPPLIERS ARE WILLING TO SELL AT $10 OR LOWER
B) The quantity demanded at a price of $25 is <u>3</u> (A, B, C)
$25 IS LOWER THAN THE MAXIMUM PRICE THAT 3 CONSUMERS WERE WILLING TO PAY.
The quantity supplied at a price $25 is <u>7</u> (A, B, C, D, E, F, G)
SEVEN SUPPLIERS ARE WILLING TO SELL AT $25 OR LOWER
