Author Question: Demand is a schedule of A) how much of a good a person wants. B) how much of a good people will ... (Read 28 times)

joblessjake

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Demand is a schedule of
 
  A) how much of a good a person wants.
  B) how much of a good people will purchase at each different possible price.
  C) how much of a good people will purchase at each income level.
  D) each possible price and the amount people will buy when their incomes change.

Question 2

Which of the following is NOT an example of a transaction cost?
 
  A) the enjoyment of owning the good
  B) the opportunity cost of time spent looking for stores that sold the good desired
  C) the cost of returning a defective product
  D) time spent bargaining over the price of a good



kescobar@64

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Answer to Question 1

B

Answer to Question 2

A



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