At a price of $2, Kai is willing to sell 1 unit of the good. Because Kai will sell O units of the good at a price of $1, this reveals she gets more enjoyment from consuming the good herself than she would get from taking the $1 and buying any amoun of any other good in the world. At a price of $2, market supply would be 2 units. O At a price of $2, the maket supply would be comprised of Boom and Oiy each selling 1 units of the good.

At a price of $2, Kai is willing to sell 1 unit of the good. Because Kai will sell O units of the good at a price of $1, this reveals she gets more enjoyment from consuming the good herself than she would get from taking the $1 and buying any amoun of any other good in the world. At a price of $2, market supply would be 2 units. O At a price of $2, the maket supply would be comprised of Boom and Oiy each selling 1 units of the good.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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