Business, 10.06.2021 19:20 vc0620120

An alternative way of thinking about the forces that cause markets to equlibrate in the real world is to think of markets reallocating the good from low to high valued use. Or to think of how the action of buyers and sellers engaging in mutually beneficial voluntary exchange (market forces) reallocates legal ownership or the physical location of the good from low to high valued used. Consider the demand at a price of $9. a. 2 units of the good are demanded at a price of $9.
b. At a price of $9, 1 unit demanded by Gob.
c. At a price of $9, 1 unit is demanded by Yam.
d. Because at $10 both Yam and Gob demanded 0 units of the good this reveals that neither values the first unit of the good they consume as much as they value $10 spent on other goods.
e. When the price drops to $9, demand by Gob and Yam individually increases from 0 to1. This reveals that the first unit of the each of them consumes has a value to them of $9.

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