Using your data from our class experiment on trading: 1. What was your total cost of achieving the standard before trading? TC; tmoreg peat bying 2. List each of your trades (e.g. purchase/sell price, \# of permits, whether you morey ear vod selling bought or sold). STAPLE YOUR TRADING SHEET. 3. Calculate your total cost after all trades were made. 4. What is the most cost-effective outcome for the three firms? Why? What is the market clearing price? $30 5. Is this efficient? How do you know? What are the cost savings? 6. Did the second time the experiment was run help the market move to the market clearing price faster? Do you think it would in general? 7. Why do economists support the notion of trading? 8. Can you think of disadvantages of trading? 1. Sell 10 for $3,000 tote' 2. Bry 4 for $200 3,8by 2 for t7t each 4. Byy 5 fer $170 eah Using your data from our class experiment on trading: 1. What was your total cost of achieving the standard before trading? TC; tmoreg peat bying 2. List each of your trades (e.g. purchase/sell price, \# of permits, whether you morey ear vod selling bought or sold). STAPLE YOUR TRADING SHEET. 3. Calculate your total cost after all trades were made. 4. What is the most cost-effective outcome for the three firms? Why? What is the market clearing price? $30 5. Is this efficient? How do you know? What are the cost savings? 6. Did the second time the experiment was run help the market move to the market clearing price faster? Do you think it would in general? 7. Why do economists support the notion of trading? 8. Can you think of disadvantages of trading? 1. Sell 10 for $3,000 tote' 2. Bry 4 for $200 3,8by 2 for t7t each 4. Byy 5 fer $170 eah