Multiple Choice
Suppose the seller's opportunity cost of producing shirts is $12 and the buyer's valuation is $22.If the seller gains $2 more than the buyer from this transaction, what is the price at which the good is exchanged between the two parties?
A) $17
B) $18
C) $19
D) $20
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: When a hierarchy is in place where
Q2: Fab Tools Inc.can produce 150 widgets and
Q4: The higher the transaction cost of an
Q5: If the production of 2,000 cars and
Q6: What causes an economy to produce a
Q7: Suppose a buyer hires an interpreter who
Q8: The island nation of Sonorez produces 200
Q9: What is a production set?
Q10: The total cost of purchasing a car
Q11: The function of economic institutions is to:<br>A)determine