What is the equilibrium price and quantity in widget market

Reference no: EM13182600

The widget market is competitive and there are no transaction costs. Five different suppliers are willing to sell one widget at each of the following prices: $30, $29, $20, $16, and $12. Five different buyers are willing to buy one widget at each of the following prices: $10, $12, $20, $24, and $29. What is the equilibrium price and quantity in this market?

Reference no: EM13182600

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