In a bargaining game, players
A) are forced to negotiate, as in a mediation.
B) voluntarily negotiate.
C) are engaging in illegal activity.
D) Both B and C
B
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Company A manufactures a single automotive component. It had total revenue of $100,000 and an economic profit of $20,000 . What is the price of the component it manufactures?
a. ($100,000/quantity sold). b. ($100,000/quantity produced). c. ($100,000/quantity sold) ? average cost of the product d. ($100,000/quantity produced) ? average cost of the product
Suppose Lauren, Leslie and Lydia all purchase bulletin boards for their rooms for $15 each. Lauren's willingness to pay was $35, Leslie's willingness to pay was $25, and Lydia's willingness to pay was $30 . Total consumer surplus for these three would be
a. $15. b. $30. c. $45. d. $90.