Suppose the market for giant cinnamon rolls consists of buyers and sellers at each of the following prices: Price for buyers Number of buyers Price for sellers Number of sellers $10 $10 $9 6. $9 8 $8 $8 $7 8 $7 6. $6 9. $6 $5 10 $5 4. Assume that each seller sells at most one giant cinnamon roll to one buyer, so that for a transaction to occur, one seller mus match up with one buyer. If the price is $5, there is an excess of which will cause the price to sellers; decrease buyers; decrease sellers; increase buyers; increase

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter5: Supply, Demand, And Price: Applications
Section5.5: Application 5: Why Is Medical Care So Expensive?
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Question 3 of 3
Suppose the market for giant cinnamon rolls consists of buyers and sellers at each of the following prices:
Price for buyers Number of buyers Price for sellers Number of sellers
$10
$10
9.
$9
6.
$9
8.
$8
7
$8
7.
$7
8.
$7
6.
$6
9.
$6
$5
10
$5
Assume that each seller sells at most one giant cinnamon roll to one buyer, so that for a transaction to occur, one seller must
match up with one buyer. If the price is $5, there is an excess of _, which will cause the price to
O sellers; decrease
O buyers; decrease
O sellers; increase
buyers; increase
4-
Transcribed Image Text:Question 3 of 3 Suppose the market for giant cinnamon rolls consists of buyers and sellers at each of the following prices: Price for buyers Number of buyers Price for sellers Number of sellers $10 $10 9. $9 6. $9 8. $8 7 $8 7. $7 8. $7 6. $6 9. $6 $5 10 $5 Assume that each seller sells at most one giant cinnamon roll to one buyer, so that for a transaction to occur, one seller must match up with one buyer. If the price is $5, there is an excess of _, which will cause the price to O sellers; decrease O buyers; decrease O sellers; increase buyers; increase 4-
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