Your friend has just received a new book he ordered,and you want to borrow it.Your friend values reading the book at $10,while you are willing to pay a maximum amount of $15 to read it.
a)What is the equilibrium outcome in this case?
b)Will the outcome be any different if you own a book that your friend wants to read? Assume that the value that each of you places on this book is the same as what you placed on the previous book.

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The Answer of Your friend has just received a new book he ordered,and you want to borrow it.Your friend values reading the book at $10,while you are willing to pay a maximum amount of $15 to read it.
a)What is the equilibrium outcome in this case?
b)Will the outcome be any different if you own a book that your friend wants to read? Assume that the value that each of you places on this book is the same as what you placed on the previous book.

Your Friend Has Just Received a New Book He Ordered,and