Home / Questions / Exhibit 3-11 Units of Good XMaximum Buying Price Minimum Sell
Exhibit 3-11
Units of Good XMaximum Buying Price Minimum Selling Price
Result
1st$12$6(A)
2nd117(B)
3rd108(C)
4th99(D)
5th810(E)
6th711(F)
172.Refer to Exhibit 3-11. Fill in blanks (A) and (B) respectively with “Exchange” or “No Exchange” to indicate whether or not exchange would take place at the given prices.
a.Exchange; Exchange
b.Exchange; No Exchange
c.No Exchange; Exchange
d.No Exchange; No Exchange
173.Refer to Exhibit 3-11. Fill in blanks (C) and (D) respectively with “Exchange” or “No Exchange”to indicate whether or not exchange would take place at the given prices.
a.Exchange; Exchange
b.Exchange; No Exchange
c.No Exchange; Exchange
d.No Exchange; No Exchange
174.Refer to Exhibit 3-11. Fill in blanks (E) and (F) respectively with “Exchange” or “No Exchange”to indicate whether or not exchange would take place at the given prices.
a.Exchange; Exchange
b.Exchange; No Exchange
c.No Exchange; Exchange
d.No Exchange; No Exchange
Exhibit 3-12
-----------------------------Quantity Supplied --------------------------------------
PriceAlineBentleyCalvinDaniel Market
$6202180(A)
72223104(B)
82425139(C)
926271714(D)
1028292220(E)
1130313238(F)
Assume that Aline, Bentley, Calvin, and Daniel are the only sellers in this market.
175.Refer to Exhibit 3-12. Fill in blanks (A) and (B) respectively with the market quantity supplied at each given price.
a.12.25; 14.75
b.49; 59
c.37; 45
d.39; 49
e.none of the above
176.Refer to Exhibit 3-12. Fill in blanks (C) and (D) respectively with the market quantity supplied at each given price.
a.17.75; 21.00
b.47; 52
c.50; 55
d.71; 84
e.none of the above
177.Refer to Exhibit 3-12. Fill in blanks (E) and (F) respectively with the market quantity supplied at given each price.
a.24.75; 32.75
b.47; 52
c.99; 131
d.48; 65
e.none of the above
178.Refer to Exhibit 3-12. Each individual seller’s supply curve is ________________ sloping and the market supply curve is _________________ sloping.
a.upward; also upward
b.downward; also downward
c.upward; downward
d.downward; upward
Exhibit 3-13
-----------------------------Quantity Demanded-------------------------------------
PriceJoseKaitlynLeahMariaMarket
$530112530(A)
627102326(B)
72392022(C)
81981718(D)
91471413(E)
1046107(F)
Assume that Jose, Kaitlyn, Leah, and Maria are the only buyers in this market.
179.Refer to Exhibit 3-13. Fill in blanks (A) and (B) respectively with the market quantity demanded at each given price.
a.96; 86
b.24; 21.5
c.75; 64
d.82; 72
e.none of the above
180.Refer to Exhibit 3-13. Fill in blanks (C) and (D) respectively with the market quantity demanded at each given price.
a.18.5; 15.5
b.74; 62
c.75; 64
d.50; 43
e.none of the above
181.Refer to Exhibit 3-13. Fill in blanks (E) and (F) respectively with the market quantity demanded at each given price.
a.12; 6.75
b.25; 19
c.75; 64
d.48; 27
e.none of the above
182.Refer to Exhibit 3-13. Each individual consumer’s demand curve is ________________ sloping and the market demand curve is _________________ sloping.
a.upward; also upward
b.downward; also downward
c.upward; downward
d.downward; upward
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