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Participating in the market for a product are 12 consumers, each of whom will buy at most one unit of the good, and 11 suppliers, each of whom will sell at most one unit of the good. The distribution of buyer values is as follows:

Buyer Value Number of Buyers

$1 2

$3 4

$5 3

$9 3

The distribution of seller costs is as follows:

Seller Cost Number of Sellers

$2 2

$4 5

$6 4

How many units of the good will be produced in a competitive equilibrium?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9877491

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