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The widget market is competitive and there are no transaction costs. Five different suppliers are willing to sell one widget at each of the following prices: $30, $29, $20, $16, and $12. Five different buyers are willing to buy one widget at each of the following prices: $10, $12, $20, $24, and $29. What is the equilibrium price and quantity in this market?

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M9472691

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