Multiple Choice
Brett's reservation price for a 1957 Plymouth Fury in mint condition is $2,500. Which of the following is false?
A) If the price of gasoline were to drop by $.50 per gallon, it is likely that Brett's reservation price would increase.
B) The price Brett pays would include storage costs.
C) If Brett paid $2,500 for such a car, he would be on the same indifference curve as he would have been if he had not bought the car.
D) Brett would buy such a car for $2,000.
Correct Answer:
Verified
Correct Answer:
Verified
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