Explain what happens to observed prices in posted offer and, Business Economics

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Explain what happens to observed prices in posted offer and

(a) Explain what happens to observed prices in posted offer and double auction markets as the number of sellers drop

(b) Explain what happens in these two markets as the number of sellers drops to only one seller.

Please provide detailed answers for all 3 sections ANSWERING the questions and NOT providing definitions.

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Business Economics: Explain what happens to observed prices in posted offer and

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