« previous next »

Author Question: Identify some of the possible transactions costs involved in an exchange of a used car between two ... (Read 17 times)

charchew

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
Identify some of the possible transactions costs involved in an exchange of a used car between two individuals.

Question 2

The long-run average-total-cost curve connects the lowest cost for each level of output given by the short-run average-total-cost curves.
 a. True
  b. False
  Indicate whether the statement is true or false


Heffejeff

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 30, 2018
Answer to Question 1

Transaction costs include the costs incurred by the seller and the buyer of the used car to locate each other. The transportation costs involved in meeting each other as well as the time involved in bargaining for a price is also a part of the transaction cost of this deal. If they do not speak the same language the services of an interpreter will add to the transaction cost.

Answer to Question 2

True


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Countercurrent heat exchange in dolphin flippers promotes conservation of body heat. Countercurrent heat exchange in dolphin flippers promotes conservation of body heat.
Metabolic pathways involved in the breakdown of proteins for energy. Metabolic pathways involved in the breakdown of proteins for energy.
The basal ganglia are clusters of gray matter that control learned movement and are involved with ... The basal ganglia are clusters of gray matter that control learned movement and are involved with ...
Locations of Broca’s Area, Wernicke’s Area, and Associated Areas Involved in Language Deficits Locations of Broca’s Area, Wernicke’s Area, and Associated Areas Involved in Language Deficits
The nuclear envelope is studded with pores, which allow exchange of materials The nuclear envelope is studded with pores, which allow exchange of materials
A company that makes environmental measuring devices has calculated their revenue and costs as ... A company that makes environmental measuring devices has calculated their revenue and costs as ...
Video: Kidney Stones

For a complete list of videos, visit our video library