Examlex
When real people play the ultimatum game,starting with $100,what usually results
Equilibrium Price
The market price where the quantity of goods supplied is equal to the quantity of goods demanded.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the equilibrium price, where demand equals supply.
Price Ceiling
A government-imposed limit on how high a price can be charged for a product, service, or commodity.
Gallon
A unit of measurement for volume, primarily used in the United States, equal to 128 fluid ounces, or approximately 3.785 liters.
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