If you are willing to purchase a house for $500,00 . and you purchase the house for $500,00 . , this transaction will generate:
a. There is no surplus created
b. $0 worth of seller surplus and unknown amount of buyer surplus
c. $0 worth of buyer surplus and unknown amount of seller surplus
d. Not information provided
c
You might also like to view...
In October 2008, Congress passed the ________, under which the Treasury provided funds to banks in exchange for stock
A) Bank Rescue Alliance Treaty (BRAT) B) Mortgage Transfer Agency (MTA) C) Financial Assurance Association (FAA) D) Troubled Asset Relief Program (TARP)
If there is a decrease in both the supply and demand for a good, which of the following will definitely occur?
a. The price of the good will increase. b. The price of the good will decrease. c. The equilibrium quantity will increase. d. The equilibrium quantity will decrease.
When one is considering the cost of taking a trip in their car, the average cost per mile includes some items of cost that are not included in the marginal cost of a mile drive. This statement is:
a. always true b. always false c. sometimes true and sometimes false depending on the circumstances d. absurd because marginal costs do not apply to mileage costs e. none of the above
Which of the following will not hold true for a competitive firm in long-run equilibrium?
A. P equals AFC. B. P equals minimum ATC. C. MC equals minimum ATC. D. P equals MC.