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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 $9.00 and the seller's willingness to accept for the hundredth unit $9.00, then the ________.

▸ equilibrium quantity is more than 100 units

▸ willingness to pay exceeds the willingness to accept for the ninety-ninth unit

▸ willingness to accept exceeds the willingness to pay for the ninety-ninth unit

▸ equilibrium quantity is less than 100 units

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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