This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: You value your economics textbook at $40. Someone else values it at $30, but that person is willing ... (Read 15 times)

sc00by25

  • Hero Member
  • *****
  • Posts: 596
on: Apr 19, 2019

You value your economics textbook at $40. Someone else values it at $30, but that person is willing to pay you $35 for your textbook. Would selling your textbook to this person for $35 be Pareto efficient?


◦ Yes, because you received the maximum amount the other person would have been willing to pay for the textbook.
◦ Yes, the person paid you $35 for the book so his net benefit was -$5, whereas your net benefit was also -$5. This exchange is Pareto efficient because each of you have the same net benefit.
◦ Yes, because both of you are better off as a result of the trade.
◦ No, because even though he was willing to pay more for the book than he valued it at, you wold not receive as much as you value it at, so you would be made worse off.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by sc00by25 on Apr 19, 2019

Swizqar

  • Sr. Member
  • ****
  • Posts: 357
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.
Answer Preview
Only 55% of students answer this correctly


sc00by25

  • Member
  • Posts: 596
Reply 2 on: Apr 19, 2019
Excellent

nothere

  • Member
  • Posts: 324
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Positron emission tomography (PET) image showing the difference in the metabolic activity of the bra Positron emission tomography (PET) image showing the difference in the metabolic activity of the bra
How to solve an exponential problem using a table of values (Question 2) How to solve an exponential problem using a table of values (Question 2)
economics economics
Economics question Economics question
textbook textbook
MRI scans of normal elderly person compared to one with Alzheimer's MRI scans of normal elderly person compared to one with Alzheimer's
Video: Introduction to Dysrhythmia

For a complete list of videos, visit our video library