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Author Question: Costs that are incurred when people engage in a trade A) are a waste of resources because they do ... (Read 125 times)

Kthamas

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Costs that are incurred when people engage in a trade
 
  A) are a waste of resources because they do not create benefits of equal or greater value.
  B) can be eliminated by substituting government regulation for voluntary exchange.
  C) reduce the amount of exchange that occurs.
  D) rise as the number of middlemen increases.

Question 2

If a seller's reservation value for a good is 10 and the price at which the good is sold is 15, his producer surplus is:
 
  A) 25.
  B) 150.
  C) 1.5.
  D) 5.



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lorealeza

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Answer to Question 1

C

Answer to Question 2

D




Kthamas

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Reply 2 on: Jun 29, 2018
:D TYSM


blakcmamba

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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