Multiple Choice
A buyer values a house at $525,000 and a seller values the same house at $485,000.If sales tax is 8% and is levied on the seller,then what would be the lowest price that the seller would be willing to sell at?
A) $527,000
B) $523,800
C) $525,000
D) $500,000
Correct Answer:

Verified
Correct Answer:
Verified
Q24: Your cellular phone contract is due for
Q25: Government can intervene in the market through<br>A)Price
Q26: Government can<br>A)Create wealth by not interfering in
Q27: Government intervention<br>A)can provide incentives to conduct business
Q28: A consumer values a house at $525,000
Q30: Subsidies can destroy wealth because<br>A)subsidies move assets
Q31: The zero sum fallacy refers to<br>A)You gaining
Q32: If you are willing to purchase a
Q33: A consumer values a car at $30,000
Q34: Technological advancement creates unemployment in firms that