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Business, 16.04.2021 04:00 gwynolegario

Take a deck of playing cards and remove the aces, jacks, queens, kings, and jokers. Imagine that any remaining card in the deck is a single individual, either a seller or a consumer, and all are gathered at a single perfectly competitive market. Red cards are sellers, and black cards are consumers. The number on a card indicates the individual's WTP or MC. Each seller owns a single unit of an indivisible good. Each consumer can buy at most one unit of the good from a seller. Then the market outcome will be

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Take a deck of playing cards and remove the aces, jacks, queens, kings, and jokers. Imagine that any...
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