HW $(4$ & $5)$

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Refer to the two tables below, which show, respectively, the willingness to pay and the willingness to accept of buyers and sellers of individual bags of oranges. For the following questions, assume that the equilibrium price and quantity depend on the following changes in supply and demand. Also assume that the only market participants are those listed by name in the two tables. In addition assume that each seller is only able to sell one bag of oranges and each buyer is only able to buy one bag of oranges during the

$8$ period represented by the data in the tables. Further, assume that the equilibrium price is known to all participants in the market.

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$02$:$00$:$45$

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$\backslash$table$[[$Consumers$,,,],[$Person$,\backslash$table$[[$Maximum$],[$Price Willing$],[$To Pay$]],\backslash$table$[[$Actual Price$],[($Equilibrium$],[$Price$)]],$Person,$\backslash$table$[[$Minimum$],[$Acceptable$],[$Price$]],\backslash$table$[[$Actual Price$],[($Equilibrium$],[$Price$)]]],[$Bashir$,$$$15,$$$10,$Chander,$$5,$$$10$