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E1sec1

# E1sec1 - Problem 1.1 Table 1.8 Mean Price Number of...

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Problem 1.1 Table 1.8 Session 1 Session 2 Mean Price \$19.00 \$29.31 Number of Transactions 12 13 Total Profit of All Sellers \$88 \$111 Total Profit of All Buyers \$132 \$119 Total Profit of All Traders \$220 \$230 Problem 1.2 You were not given the order in which the transactions happened , so you didn't have the daya you would have needed to answer this question. Problem 1.3 Table 1.9 Price Range Amount Supplied P<\$10 0 \$10<P<\$30 11 P>\$30 17 Table 1.10 Price Range Amound Demanded P>\$40 0 \$20<P<\$40 6 P<\$20 18 Table 1.11 Price Range Amount Supplied P<\$10 0 \$10<P<\$30 6 P>\$30 17 Table 1.12 Price Range Amound Demanded P>\$40 0 \$20<P<\$40 12 P<\$20 18 Problem 1.4 Figure 1.6: Supply and Demand for Apples, Session 1 Problem 1.5 Figure 1.7: Supply and Demand for Apples, Session 2. Problem 1.6 Table 1.13 Predicted and Actual Outcomes-Session 1 Exper. Comp. Outcome Predict. Mean Price \$19.00 \$20 Number of Transactions 12 11 Total Profit of Sellers \$88.00 \$110.00 Total Profit of Buyers \$132.00 \$120.00 Total Profits of All \$220.00 \$230.00 Market Efficiency 96% 100.00% Table 1.13 Predicted and Actual Outcomes-Session 2 Exper. Comp. Outcome Predict. Mean Price \$29.31 \$30 Number of Transactions
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