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
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
Chapter5: Supply, Demand, And Price: Applications
Section5.5: Application 5: Why Is Medical Care So Expensive?
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