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 makes three transactions, what is his bid-ask spread per unit

The ability of consumers to influence price or other market aspects is known as

a. distribution control b. bureaucratic control c. price control d. market control

Refer to Scenario 1-1. Using marginal analysis terminology, what is another economic term for the incremental cost of producing the last 400 t-shirts?

A) operating cost B) marginal cost C) explicit cost D) Any of the above terms are correct.