The Following Table Displays the Reservation Values of Buyers and Sellers

question 67

Multiple Choice

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 six highest-value buyers and the six lowest-cost sellers engage in trade,what is the social surplus?

• A) $6
• B) $8
• C) $10
• D) $12

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Definitions:

Euros

The official currency of the Eurozone, which consists of 19 of the 27 European Union countries, serving as a major global reserve currency.

Value of the Dollar

A measure of the U.S. dollar's strength relative to other currencies, impacting international trade and investment.

Spot Exchange Rate

The prevailing rate at which one currency can be swapped for another for instant settlement.

Spot Trade

A deal where financial instruments or commodities are swapped right away.