Sue offers to pay Al $50 for each painting of his that she sells in her gallery. Each painting sells for $75. The cost to Al of producing each painting is $55. Which of the following statements is TRUE about this contract?
A) This contract is efficient.
B) This contract maximizes joint profit.
C) Al will not participate in this contract.
D) This is a fixed-fee contract.
C
Economics
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Use the dynamic aggregate demand and aggregate supply model and start with Year 1 in long-run macroeconomic equilibrium
For Year 2, graph aggregate demand, long-run aggregate supply, and short-run aggregate supply such that the condition of the economy will induce the Federal Reserve to conduct a contractionary monetary policy. Briefly explain the condition of the economy and what the Federal Reserve is attempting to do.
Economics
With which choice are you more likely to avoid Bid-rigging cartels?
a. Holding English auctions b. Holding sealed-bid auctions c. Holding oral auctions d. All of the above
Economics