QUESTION 8S1, S2, S3 and S4 are UIUC students who just graduated. They each have a poster of Dolly Parton that they are willing to sell. B1, 82, B3 and B4are new students at UIUC and want to buy Dolly Parton postern for their rooms. The tables below give the minimum selling prices and maximumbuying prices for each student.Minimum Selling PricesMaximum Buying PricenX+$9S1$10B1S2$11B2X+$14S3$20B3X+$16S4$25B4X+$26If X is negative $5 (.e., Xu-$5), what is the market-clearing price? Note: Do not include the dollar sign,

Here, minimum willingness to sell of the just graduated student and maximum willingness to buy of…

Answered: S1, 52, S3 and S4 are UIUC students who…

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter7: Uncertainty

Section: Chapter Questions

Problem 7.8P

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