1. In the Filling in the Gaps approach we took to explain how each buyer is small relative to the size of the market and likewise for each seller, how would the equilibrium change if we filled in with more buyers at a time than sellers? Similarly how would the equilibrium change if we filled in with more sellers at a time than buyers?
2. (This is hard.) In the auctioneer model where you set the price and then see demand and supply at that price, the assumption is that trade doesn't occur if the price is not the equilibrium price, so the auctioneer can start anew. What would happen if trade did occur? How would the equilibrium change?
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