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
Merchant A orally enters into a $1,000 contract with Merchant B.Merchant B will not be legally bound if she sends a confirmation,because Merchant A did not sign it,but she did object to it 3 days after she received the written confirmation.Merchant A sends out a conforming shipment the following week.The merchants have a binding agreement.