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Author Question: You value your favorite shirt at $110. Someone else values it at $150, and that person is willing to ... (Read 43 times)

pepyto

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on: Apr 19, 2019

You value your favorite shirt at $110. Someone else values it at $150, and that person is willing to pay you $120 for your shirt. Would selling your shirt to this person for $120 be Pareto efficient?


◦ No, because you did not receive the maximum amount the other person would have been willing to pay for the shirt.
◦ No, the person paid you $120 for the shirt so his net benefit was $30, while your net benefit was $10. For this change to be Pareto efficient, each of you should have the same net benefit.
◦ Yes, because even though you gain from the trade and he loses, there is the potential for you to compensate him for his loss.
◦ Yes, because both of you are better off as a result of the trade.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by pepyto on Apr 19, 2019

Jevvish

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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pepyto

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

meow1234

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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