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Author Question: Which of the following describes the economic meanings of cost and price? (Read 27 times)

clmills979

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on: May 24, 2019
Which of the following describes the economic meanings of cost and price?
◦ Cost is exchange worth, and price is dollar worth.
◦ Cost is what must be given up to produce a good, and price is what a seller receives when the good is sold.
◦ They are the same, and they both mean what is received when a good is sold.
◦ Cost refers to what the buyers pay for the good, and price refers to what sellers receive when the good is sold.
◦ Cost refers to the price that buyers must pay to buy the good.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by clmills979 on May 24, 2019

Toya9913

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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.
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clmills979

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Reply 2 on: May 24, 2019
Excellent

jackie

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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