Jon is on ebay bidding for a first edition of the, Microeconomics

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Jon is on ebay bidding for a first edition of the

Question: 1. If the price in a market is above the equilibrium price, does this create a surplus or a shortage?

2. Jon is on eBay, bidding for a first edition of the influential Frank Miller graphic novel Batman: The Dark Knight Returns. In this market, who is Jon competing with: the seller of the graphic novel or the other bidders?

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Microeconomics: Jon is on ebay bidding for a first edition of the

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