Author Question: Joanne rents out her apartment in Seattle to Alice as she is moving to Dallas for the next three ... (Read 116 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?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

For a complete list of videos, visit our video library