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Author Question: Mister Jones was selling his house. The asking price was $220,000, and Jones decided he would take ... (Read 93 times)

nmorano1

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on: Mar 14, 2021

Question 1

Mary purchased a stuffed animal toy for $5. After a few weeks, someone offered her $100 for the toy. Mary refused. One can conclude that Mary's consumer surplus from the toy is
◦ less than $5.
◦ at least $95.
◦ at least $100.
◦ $105.

Question 2

Mister Jones was selling his house. The asking price was $220,000, and Jones decided he would take no less than $200,000. After some negotiation, Mister Smith purchased the house for $205,000. Smith's consumer surplus is
◦ $5,000.
◦ $15,000.
◦ $20,000.
◦ not able to be calculated from the information given.
Managerial Economics and Strategy ¦ Perloff, Brander ¦ 3rd Edition
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Marked as best answer by nmorano1 on Mar 14, 2021

pocatato

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Reply #1 on: Mar 14, 2021
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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nmorano1

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Reply 2 on: Mar 14, 2021
YES! Correct, THANKS for helping me on my review

bbburns21

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Reply 3 on: Yesterday
Excellent

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