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.What is the equilibrium price in the market without the market maker

A) $12
B) $11
C) $10
D) $9

Question

​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.What is the equilibrium price in the market without the market makerA) ​$12B) $11C) $10D) ​$9

Zybrea Knight · Accepted Answer

Final Answer : C, Explanation :  The equilibrium price is where the quantity demanded equals the quantity supplied. At $10, five buyers are willing to buy at or above that price, and five sellers are willing to sell at or below that price, making it the equilibrium price.

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