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HW 1 (section 10)

HW 1 (section 10) - Experiment 1 Section 10 Problem 1.1...

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Experiment 1 Section: 10 Problem 1.1 Table 1.8 Session 1 Session 2 Mean Price $19.46 $28.32 Number of Transactions 14 14 Total Profit of All Sellers $132.50 $116.50 Total Profit of All Buyers $107.50 $143.50 Total Profit of All Traders $240.00 $260.00 Problem 1.2 Figure 1.5 $0 $5 $10 $15 $20 $25 $30 $35 $40 1 3 5 7 9 11 13 15 17 19 21 23 25
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Problem 1.3 Table 1.9: Supply Table: Session 1 Price Range Amount Supplied P<$10 0 $10<P<$30 14 P>$30 21 Table 1.10: Demand Table: Session 1 Price Range Amound Demanded P>$40 0 $20<P<$40 7 P<$20 21 Table 1.11: Supply Table: Session 2 Price Range Amount Supplied P<$10 0 $10<P<$30 7 P>$30 21 Table 1.12: Demand Table: Session 2 Price Range Amound Demanded P>$40 0 $20<P<$40 14 P<$20 21
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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. $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 0 5 10 15 20 25 30 35 40 Bushels of Apples Price of Apples CE $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 0 5 10 15 20 25 30 35 40 Bushels of Apples Price of Apples CE
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Problem 1.6 Table 1.13 Predicted and Actual Outcomes-Session 1 Exper. Comp. Outcome Predict. Mean Price $19.46 $20 Number of Transactions 14 14 Total Profit of Sellers $132.50 $140.00 Total Profit of Buyers $107.50
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