DEMAND AND SUPPLY ACT: PEARL EXCHANGE

Goal:

1. To make as much consumer surplus (when the price that consumers pay for a product/service is less
than the price their willing to pay/paying less than the actual price of a service or product in short
ready ka na gumastos ng 37000 pesos para sa iphone pero nakuha mo ito sa halagang 35000 pesos
meron kang consumer surplus na 2000 pesos)
2. Make producer surplus
3. The best negotiator in the class will be the winner.

Consumer surplus is not tangible, hindi nakakagawa ng extra pera rather it is a measure of good feeling
you have from getting better deal than you expect.

1. Assign a group of student to act as a buyer and another set of students as a seller
2. Give the buyer a maximum price and the seller a minimum price
3. The two should negotiate and come up with a price
4.