Question: 2. a) Please explain why barter imposes high transaction cost of traders? b) Illustrate the impact of high transaction cost in a barter economy on

2. a) Please explain why barter imposes high transaction cost of traders? b) Illustrate the impact of high transaction cost in a barter economy on supply and demand model (you need to draw on the following picture, please label the new equilibrium price and quantity) and explain your results. SM PM D 0 Q Qty. of Good X

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