Question: Please choose the correct answer: 1- Suppose there are 11 buyers and 11 seller, each willing to buy or sell one unit of a goo,

Please choose the correct answer:

1- Suppose there are 11 buyers and 11 seller, each willing to buy or sell one unit of a goo, with values ( $25,23,21,19,17,15,13,11,9,7,5).Assume no transaction costs and a competitive market.At the optimal bid-ask spread, how much profit would the market maker earn in this market?

a- $ 40

b- $ 45

c- $ 32

d- $ 36

2- Suppose there is currently a shortage of soybeans on the world. All of the following may remove the problem of excess demand from the market except:

a- shifting the demand curve leftward

b-lowering the market price

c-shifting the supply curve rightward

d-raising the market price

3- Which of the following would cause the demand for Pepsi-Cola to shift right?

a- Coca-Cola increases its advertising expenditures

b- the price of Coca-Cola increases

c- A new study find that drinking Pepsi-Cola causes stomach pain

d- the price of Pepsi-Cola increases.

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