Author Question: Wealth is created when a. Assets move from lower value use to higher value use b. Assets move from ... (Read 72 times)

neverstopbelieb · **on:** Jul 1, 2018

Wealth is created when
a. Assets move from lower value use to higher value use
b. Assets move from higher value use to lower value use
c. Assets move from individuals who are willing to pay less for them to individuals who are willing to pay more for them
d. Both A and C

Question 2

If you are willing to sell your lawn mower business for 355,000 and someone offers you 420,000 for it, this transaction will generate:
a. There is no surplus created
b. 65,000 worth of seller surplus and unknown amount of buyer surplus
c. 30,000 worth of buyer surplus and 35,000 of seller surplus
d. 65,000 worth of buyer surplus and unknown amount of seller surplus