Every Saturday I go to my local downtown market to buy fresh vegetables and bread. My...

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Every Saturday I go to my local downtown market to buy fresh vegetables and bread. My market is somewhat unusual because everything is sold through an auction: an auctioneer calls out a price, buyers yell out how much they want to buy, and sellers yell out how much they want to sell. If there's a match, the goods are sold at that price. If not, the auctioneer has to call out a new price until there is a match. Let's look at an auction for banana bread. There are 20 buyers and 4 sellers of banana bread. The table below provides information for a single buyer's demand curve and a single seller's demand curve. ♡ Price 16 15 14 13 On the graph below, use the straight line tool to draw the market demand and supply curves. To refer to the graphing tutorial for this question type, please click here. 12 11 10 9 8 7 6 E 5 4 3 2 1 Price 0 $10 $8 $6 $4 $2 Quantity of banana bread demanded by one buyer ← → O 0 2 4 6 8 Banana bread Quantity of banana bread supplied by one seller 60 50 40 30 20 Part 2 (4 points) If the auctioneer calls out a price of $8, there is a have to call out a Q See Hint of loaves of bread. Therefore, the auctioneer will price. The auctioneer will keep on adjusting the price until the price of a loaf of banana bread is $ (give your answer to the nearest whole number). Every Saturday I go to my local downtown market to buy fresh vegetables and bread. My market is somewhat unusual because everything is sold through an auction: an auctioneer calls out a price, buyers yell out how much they want to buy, and sellers yell out how much they want to sell. If there's a match, the goods are sold at that price. If not, the auctioneer has to call out a new price until there is a match. Let's look at an auction for banana bread. There are 20 buyers and 4 sellers of banana bread. The table below provides information for a single buyer's demand curve and a single seller's demand curve. ♡ Price 16 15 14 13 On the graph below, use the straight line tool to draw the market demand and supply curves. To refer to the graphing tutorial for this question type, please click here. 12 11 10 9 8 7 6 E 5 4 3 2 1 Price 0 $10 $8 $6 $4 $2 Quantity of banana bread demanded by one buyer ← → O 0 2 4 6 8 Banana bread Quantity of banana bread supplied by one seller 60 50 40 30 20 Part 2 (4 points) If the auctioneer calls out a price of $8, there is a have to call out a Q See Hint of loaves of bread. Therefore, the auctioneer will price. The auctioneer will keep on adjusting the price until the price of a loaf of banana bread is $ (give your answer to the nearest whole number).