This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which describes the economic meanings of value and price? (Read 35 times)

audie

  • Hero Member
  • *****
  • Posts: 532
on: May 24, 2019
Which describes the economic meanings of value and price?
◦ Value is exchange worth minus marginal benefit and price is the dollars that must be paid.
◦ Value is the marginal benefit obtained and price is the dollars that must be paid.
◦ Value refers to the gain the producer gets from the good or service and price refers to the gain the consumer gets from the good or service.
◦ Value refers to the dollars that must be paid and price refers to the cost of producing the good.
◦ They are the same and both mean the dollars that must be paid.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by audie on May 24, 2019

af

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


audie

  • Member
  • Posts: 532
Reply 2 on: May 24, 2019
YES! Correct, THANKS for helping me on my review

AmberC1996

  • Member
  • Posts: 317
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Relationship between Economic Openness and GDP per Capita Relationship between Economic Openness and GDP per Capita
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
economic question economic question
economic question economic question
economic question economic question
economic question economic question
Video: Bone tissue types - compact and spongy

For a complete list of videos, visit our video library