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Limits of price formation

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Reference no: EM132559527

Suppose we have 6 buyers and 7 sellers in the market for horses:

Maximum Buying Prices Minimum Selling Prices

B-1 $133 S-1: $112
B-2 $121 S-2: $115
B-3 $120 S-3: $116
B-4 $113 S-4: $121
B-5: $111 S-5: $122
B-6: $110 S-6: $125
S-7: $131

The limits of price formation are between what?

A.$93 and $97

B.$110 and $125

C.$133 and $112

D.$133 and $131

E.$120 and $116

Reference no: EM132559527

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