Ex8Sec3Data

# Ex8Sec3Data - Answer Key for Experiment 6 Blue cells have...

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Answer Key for Experiment 6. Blue cells have instructions for you to follow. Enter data in the yellow cells. Keep going until you hit the finish line at the end of this sheet. Seller Cost 28 2 20 2 23 3 25 2 18 3 30 2 13 4 35 3 8 2 40 4 Session 1 Price Seller ID Seller Cost Buyer ID Buyer Value 23.25 342 13 315 35 22.5 327 8 318 40 21 317 13 333 40 24 336 13 324 40 24 332 23 306 25 24 330 8 341 25 27 323 18 344 35 21 308 13 311 30 25 322 18 316 40 24 312 23 346 35 24 348 18 334 30 Session 2 Price Seller ID Seller Cost Buyer ID Buyer Value 34 311 13 345 40 33 304 8 307 40 34.5 327 13 318 40 36 334 13 324 40 34 328 8 323 35 Session 3--Last Round Price Seller ID Seller Cost Buyer ID Buyer Value Permit Cost 32 341 13 333 40 13 31 342 8 316 40 13 31 304 13 345 40 14 31 344 18 319 35 12 31 306 13 312 35 14 30.5 308 8 307 40 16 What pollution damage did each ornament impose on each Effluvian? 0.7 How many pollution permits did you issue in Session 3? 6 Go to Figure 6.5 in the homework page and move the "CE1", "CE2", and the dots so that they are on top of the equilibrium. Make sure the equilibria depicted in the Figure correspond with the numbers in Table 6.10 and 6.11. For Session 1, the equilibrium price can be \$23, \$25, or any price in the range of \$23-\$25. Check out the case you have. I used \$24 for the calculations, assuming you are in the range \$23-\$25, and attached a note to the table explaining that. However, if you are at \$25 or \$23, you need to change the price to \$23 or \$25 in Table 6.10,

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## This note was uploaded on 12/25/2011 for the course ECON 1 taught by Professor Bergstrom during the Fall '07 term at UCSB.

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Ex8Sec3Data - Answer Key for Experiment 6 Blue cells have...

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