It costs suppliers $1 to produce each additional widget, and widgets sell for $2. Some consumers are not willing to pay $2 for a widget but are nevertheless willing to pay more than $1. Which of the following statements is TRUE?
Select one:
a. Suppliers must be reaping big profits.
b. The market is at equilibrium.
c. There are unexploited gains from trade.
d. Consumers will bid up prices.
