You run a small classroom market experiment with only three buyers and three sellers. The willingness to pay (reservation value
) for buyer A is $7 for each unit; for buyer B, it is $5 for each unit; and for buyer C, it is $3 for each unit. The willingness to accept (reservation value) for seller X is $2 for each unit; for seller Y, it is $4 for each unit; and for seller Z, it is $6 for each unit. 1.) Using the multipoint curve drawing tool, draw the demand curve for this market. Label the curve appropriately. 2.) Using the multipoint curve drawing tool, draw the supply curve for this market. Label the curve appropriately. (Hit the "Esc" key after you have plotted your last point to exit the drawing tool) Carefully follow the instructions above, and only draw the required objects.
1 answer:
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Answer: Account A
Explanation:
Account A would be best for James as it provides the most value for the things he would like to do.
- ATM charges are free with this account so he can use the ATM four times in the month at no charge
- He would pay no monthly fees as he uses direct debit
- He would pay an annual fee of $0
- And as online payments are free, he would not have to worry about getting charged for the 8 bills to process in the month.
