A) Explain what happens to observed prices in posted offer and double auction markets as the number of sellers jobs to 2. B) Explain what happens in these two markets as the number of sellers drops to only one seller. C) Explain why part (b) Illustrates the first experimental principle.

Please do not answer question in picture. Please demonstrate the graph as a supply and demand graph with all axes labels that include price, quantity, reason for shift depicted, original prices, and original quality.

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What can you say about the statement "when extreme heat damages flower yields of growers in California, the price of flowers in Chicago decreases"? Assume flowers can be shipped across the US for free, quickly, and arrive in perfect condition.   Question 3 options:   It is true, because the demand for flowers in the US shifts  left leading to lower prices   It is false, there is no relation between the Chicago and California markets under the conditions described in the question   It is true, because the demand for flowers in the US shifts right leading to lower prices   It is false, because the supply of flowers in the US shifts left leading to higher prices

Multiple choice question. As opposed to general equilibrium analysis, partial equilibrium analysis looksa) at an equilibrium and changes to it in a single, isolated market.b) at how changes in all other markets effect a particular market.c) at how equilibrium is determined in all markets simultaneously.d) at either price or quantity movements.