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Author Question: If the transaction between you and the seller takes place at a price that equals your valuation of ... (Read 24 times)

mckennatimberlake

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on: Jun 30, 2018
If the transaction between you and the seller takes place at a price that equals your valuation of the product, then:
 a. you realize all the gains from this transaction.
  b. the gains from this transaction are equally divided between the two of you.
  c. the entire economic value created by the transaction goes to the seller.
  d. the economic value created by this transaction is sub-optimal.

Question 2

If the total cost of producing 6 units is 228 and the total cost of producing 7 units is 245, what is the marginal cost of producing the seventh unit?
 a. 35
  b. 245
  c. 3
  d. 38
  e. 17


Ahernandez18

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

C

Answer to Question 2

e


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