There are 100 demanders, each of whom would pay up to $1,000 for one truck horn (none
Question:
There are 100 demanders, each of whom would pay up to $1,000 for
one truck horn (none needs a second horn). There are 200 sellers; 150
of them can produce and sell a truck horn at $50 per unit, the other 50
at $100. What will the market price for truck horns be? How is this
efficient?
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The market clearing price is 50 At higher prices ...View the full answer
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Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
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