Five Hundred Units of Good X Are Currently Bought and Sold.The

question 12

Multiple Choice

Five hundred units of good x are currently bought and sold.The marginal buyer is willing to pay $40 for the 500^th unit,and the cost to the marginal seller is $35 for the 500^th unit.We know that

• A)the equilibrium price of good x is somewhere between $35 and $40.
• B)the equilibrium quantity of good x exceeds 500 units.
• C)500 units is not an efficient quantity of good x.
• D)All of the above are correct.

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