A market maker faces the following demand and supply for widgets. Eleven buyers are willing to buy at the following prices: $15, $14, $13, $12, $11, $10, $9, $8, $7, $6, $5 . Eleven sellers are also willing to sell at the same prices. If the market maker is free to choose the number of transactions he can make, what is his maximum profit?
a. $8
b. $10
c. $18
d. $28
c
Economics
You might also like to view...
When a firm buys a product from another firm in the same company, it is charged
A) an implicit price. B) a market price. C) a predatory price. D) a transfer price.
Economics
Other things constant, an increase in resource prices will:
A. increase aggregate demand. B. decrease aggregate demand. C. decrease aggregate supply. D. increase aggregate supply.
Economics