Question is in the last picture. Homework: APPLY Market Experiment Score: 0.57 o

Question

Question is in the last picture. Homework: APPLY Market Experiment Score: 0.57 of 1 pt 19 of 19 (19 complete) @ Market Post-HW 12 Buyers' willingness to pay (WTP in descending order) and sellers' costs (in ascending order) are given in the table below and shown in the diagram to the right Transaction values between each pair of buyers and sellers (buyer #1 & seller #1, buyer #2 & seller #2 ) are included in the last column Buyer # WTpD | Seller # Costs Transaction 20.00 19.00 18.503 16.00 1.00 3.50 4.5 5.50 6.50 8.75 15.25 8.62 10.10 12.54 10.33 11.45 11.88 12.00 2 1500 5 13.256 13.007 12.00 11.00 7 10 12.00 12.50 15.50 10 10 Complete the following table for buyer and seller#1 At a At the transaction lequilibrium price of price of $15.25$12.00 What is buyer #1's gain? 4.75 What is seller #1's gain? 14.25 Enter your answer in the answer box and then click Check Answer All parts showing Clear All ch

Explanation / Answer

To find total gain calculate all 8 buyer's gain and all 8 seller's gain.

Buyer's gain = Transaction-WTP

= 4.75+10.38+8.4+3.46+4.67+1.8+1.12+0= 34.58

Seller's gain = Transaction-cost

= 14.25+5.12+5.6+7.04+3.83+2.7+1.38+0= 39.92

Total gain= seller gain+ buyer gain

= 74.5

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.