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

Author Question: You value your economics textbook at $40. Someone else values it at $30, but that person is willing ... (Read 9 times)

sc00by25

  • Hero Member
  • *****
  • Posts: 596
on: Apr 19, 2019

You value your economics textbook at $40. Someone else values it at $30, but that person is willing to pay you $35 for your textbook. Would selling your textbook to this person for $35 be Pareto efficient?


◦ Yes, because you received the maximum amount the other person would have been willing to pay for the textbook.
◦ Yes, the person paid you $35 for the book so his net benefit was -$5, whereas your net benefit was also -$5. This exchange is Pareto efficient because each of you have the same net benefit.
◦ Yes, because both of you are better off as a result of the trade.
◦ No, because even though he was willing to pay more for the book than he valued it at, you wold not receive as much as you value it at, so you would be made worse off.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by sc00by25 on Apr 19, 2019

Swizqar

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Apr 19, 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 55% of students answer this correctly


sc00by25

  • Member
  • Posts: 596
Reply 2 on: Apr 19, 2019
Wow, this really help

cpetit11

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Ranges of normal temperature values Ranges of normal temperature values
Changes in Blood Test Values with Acute Myocardial Infarction Changes in Blood Test Values with Acute Myocardial Infarction
How to create a table of values displaying commission and earnings (Question 1) How to create a table of values displaying commission and earnings (Question 1)
On Cooking: A Textbook of Culinary Fundamentals (5th Edition) On Cooking: A Textbook of Culinary Fundamentals (5th Edition)
(a) Graph for converting values to p values. (b) Table of values for selected values of df (a) Graph for converting values to p values. (b) Table of values for selected values of df
(left) Urine sample from an unaffected person does not change color upon exposure to air. (right) Ur (left) Urine sample from an unaffected person does not change color upon exposure to air. (right) Ur
Video: Dorsal Recumbent Position

For a complete list of videos, visit our video library