A Market Is Composed of Five Demanders with the Following

question 73

Multiple Choice

A market is composed of five demanders with the following reservation prices, $30, $25, $40, $75, and four suppliers' supplies with the following reservation prices, $75, $55, $80 and $85. Which of the following is a competitive equilibrium price?

• A)$30
• B)$40
• C)$60
• D)$50

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Definitions:

Somatic Complaints

Physical symptoms that may not have a discernible physical cause, often believed to be linked to psychological factors, including pain, fatigue, and discomfort.

Negative Way

A term not specific to a field; generally refers to a manner or approach that is not constructive or beneficial.

Irrational Thoughts

Thoughts that are not based on reality or logical reasoning, often negative and self-defeating.

New Ways

Innovative approaches or methods to address or solve problems.