If products similar to the intermediate good can be bought ...

[cherise1989]

If products similar to the intermediate good can be bought externally, an approximation of the correct transfer price is
 a. average costs
 b. average fixed costs
 c. average variable costs
  d. the market price

Question 2

Suppose there are 11 buyers and 11 sellers, each willing to buy or sell one unit of a good, with values 14, 13, 12, 11, 10, 9, 8, 7, 6, 5, 4,. Assume no transaction costs and a competitive market, what is the equilibrium price in this market?
 a. 7
  b. 8
  c. 9
  d. 10

[carojassy25]

Answer to Question 1

d

Answer to Question 2

c

[cherise1989]

Thanks for the timely response, appreciate it

[pratush dev]

YES! Correct, THANKS for helping me on my review