Author Question: Joanne rents out her apartment in Seattle to Alice as she is moving to Dallas for the next three ... (Read 120 times)

dakota nelson

  • Hero Member
  • *****
  • Posts: 604
Joanne rents out her apartment in Seattle to Alice as she is moving to Dallas for the next three years. Which of the following statements must be true?
 a. Alice's valuation of the apartment is higher than Joanne's opportunity cost of renting it.
  b. Joanne's valuation of the apartment is higher than Alice's.
  c. This transaction creates no economic value for Alice.
  d. Alice's valuation of the apartment is lower than Joanne's opportunity cost of renting it.

Question 2

Assume that for 20 bicycles, the total fixed cost is 100 and the total variable cost is 300 . Then the average fixed cost and the average variable cost are:
 a. 5 and 10 respectively.
  b. 5 and 15 respectively.
  c. 10 and 15 respectively.
  d. 15 and 10 respectively.
  e. 10 and 5 respectively.



tennis14576

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

A

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

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.

For a complete list of videos, visit our video library