The following table displays the reservation values of buyers and sellers in the market for notebooks, where each individual either wants to buy or sell one notebook.
-Refer to the table above.If the market is perfectly competitive,what is Buyer 3's consumer surplus?
Definitions:
Semi-annual Period
A timeframe that spans half a year, often used in the context of finance for payments or interest calculations.
Annual Interest
The amount of money that is earned or paid on an investment or loan over a one-year period, expressed as a percentage of the principal.
Withdraw Amount
The act of removing funds from an account, investment, or savings.
Compounded Semi-annually
Interest calculation method where interest is added to the principal twice a year.
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