Attempts Average / 2 4. Individual Problems 8-1 The widget market is competitive and includes...
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Attempts Average / 2 4. Individual Problems 8-1 The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the following prices: $26, $14, $10, $5, and $3 (one seller at each price). Five buyers are willing to buy one widget at the following prices: $10, $14, $26, $34, and $42 (one buyer at each price). For each price shown in the following table, use the given information to enter the quantity demanded and quantity supplied. Price ($ per widget) $3 Quantity Demanded (widgets) Quantity Supplied (widgets) $5 $10 $14 $26 $34 $42 In this market, the equilibrium price will be per widget, and the equilibrium quantity will be widgets
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