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Author Question: What is economic value of an exchange?[br][br][b][color=#FBB117]Question 2[/color][/b][br][br]In the ... (Read 38 times)

Wadzanai

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on: Jun 30, 2018
What is economic value of an exchange?

Question 2

In the long run, the producer can change the entire plant size to produce a certain level of the output.
 a. True
  b. False
  Indicate whether the statement is true or false


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smrtceo

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Reply #1 on: Jun 30, 2018
Answer to Question 1

Economic value of an exchange is defined as the difference between the buyer's valuation of the good and the seller's opportunity cost of parting with the good.

Answer to Question 2

True


Wadzanai

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

mochi09

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

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