gm thry

effects due to high/low volumes, numbers 

rotating bids/offers around a table (as a model)





1.

2 or more sellers/suppliers, 1 buyer




offer

1.	2.	lowest offer

10	10	10	
9	10	9		1. offers
9	8	8		2. offers
7	8	7		1. offers
7	6	6		2. offers
5	6	5		etc.
5	4	4
3	4	3
3	2	2
1	2	1
0	0	0


(price falls to zero)






2.

2 or more buyers/customers, 1 seller




bid

1.	2.	highest bid

10	10	10
11	10	11		1. bids
11	12	12		2. bids
13	12	13		1. bids
13	14	14		2. bids
15	14	15		etc.
15	16	16	
17	16	17	
17	18	18	
	18	18		1. out, only one remaining in



(price rises to high levels)


[cost of production relevant also]
