Preparing for the Price Ceilings and Price Floors Experiment

If you are a seller with a seller cost of $6.50, would you be willing to sell your book for $6.25?

No, I would not be willing to sell my book for $6.25.

If you are a buyer with a buyer value of $6.50, would you be willing to buy a book for $6.25?

Yes, I would be willing to buy a book for $6.25.

If your seller cost is $8.00 and the price ceiling is $7.00, you will:

Be unable to sell a book for a profit

True or False: In this experiment, your role stays the same from one variation to the next (that is, if you are a buyer in the first variation, you will be a buyer in the second variation).

False