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Author Question: The lowest price Jacob will accept from Harold for a bushel of corn produced in his farm is 5 . The ... (Read 56 times)

mckennatimberlake

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on: Jun 30, 2018
The lowest price Jacob will accept from Harold for a bushel of corn produced in his farm is 5 . The transaction will go through if:
 a. Harold's valuation is less than Jacob's.
  b. Harold's valuation is greater than 5.
  c. Jacob's opportunity cost is greater than Harold's.
  d. Jacob's opportunity cost is equal to Harold's.

Question 2

With expansion in the level of output, total fixed cost:
 a. declines but remains positive.
  b. increases.
  c. falls to zero.
  d. remains constant.
  e. becomes negative.


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harveenkau8139

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

B

Answer to Question 2

d


mckennatimberlake

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

Kedrick2014

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Reply 3 on: Yesterday
Excellent

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