If you are willing to purchase a house for $300,00 . and you purchase the house for $275,000 . this transaction will generate:
a. There is no surplus created
b. $25,00 . worth of seller surplus and unknown amount of buyer surplus
c. $10,00 . worth of buyer surplus and $15,00 . of seller surplus
d. $25,00 . worth of buyer surplus and unknown amount of seller surplus
d
Economics
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Which of the following is NOT an example of an externality?
A) A bread company emits a wonderful aroma in the air that makes people smile. B) The neighbor's wind chimes interfere with your sleep. C) A firm fires 500 people. D) Cancer-causing chemicals are dumped into the drinking water supply of a city.
Economics
The production possibilities frontier represents all desirable combinations of two goods
a. True b. False
Economics