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Consider a market where the demand curve is downward sloping and the supply curve is upward sloping ...

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Consider a market where the demand curve is downward sloping and the supply curve is upward sloping ...

Consider a market where the demand curve is downward sloping and the supply curve is upward sloping (so they are neither vertical nor horizontal). If the consumers' willingness to pay for the hundredth unit is $7.00 and the seller's willingness to accept for the hundredth unit is $10.00, then the equilibrium ________.

▸ quantity is more than 100 units

▸ price is more than $10.00

▸ price is less than $7.00

▸ quantity is less than 100 units

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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