A market maker faces the following demand and supply for widgets.Eleven buyers are willing to buy at the following prices: $15,$14,$13,$12,$11,$10,$9,$8,$7,$6,$5.Eleven sellers are also willing to sell at the same prices.What is the equilibrium price in the market without the market maker

Question

​A market maker faces the following demand and supply for widgets.Eleven buyers are willing to buy at the following prices: $15,$14,$13,$12,$11,$10,$9,$8,$7,$6,$5.Eleven sellers are also willing to sell at the same prices.What is the equilibrium price in the market without the market maker

Quizplus · Accepted Answer

The equilibrium price is where the quantity demanded equals the quantity supplied. At $10, five buyers are willing to buy at or above that price, and five sellers are willing to sell at or below that price, making it the equilibrium price.

​A Market Maker Faces the Following Demand and Supply for Widgets.Eleven

A Market Maker Faces the Following Demand and Supply for Widgets.Eleven