Author Question: If you are willing to purchase a house for 500,00 . and you purchase the house for 500,00 . , this ... (Read 73 times)

imanialler · **on:** Jul 1, 2018

If you are willing to purchase a house for 500,00 . and you purchase the house for 500,00 . , this transaction will generate:
a. There is no surplus created
b. 0 worth of seller surplus and unknown amount of buyer surplus
c. 0 worth of buyer surplus and unknown amount of seller surplus
d. Not information provided

Question 2

Which of the following can a firm use to reduce competition in the market?
a. Locking in customers to long term contracts
b. Seek an exclusive government contract
c. Acquire patents
d. All the above