If Sean sells Susan a DVD player for $30,
A) both Sean and Susan will gain from this transaction.
B) the well-being of both parties will be unchanged.
C) Sean will gain from the transaction, but Susan will lose.
D) Susan will gain from the transaction, but Sean will lose.
A) both Sean and Susan will gain from this transaction.
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Refer to Game Matrix II. Which outcomes in this game are Pareto optimal?
Game Matrix II
The following questions refer to the game matrix below. Player A can play the strategies "High" and "Low," and Player B can play the strategies "Odd" and "Even."
a. The upper right-hand corner only.
b. The lower right-hand corner only.
c. Both the upper and lower right-hand corners.
d. All outcomes except the upper left-hand corner.
One reason for international specialization in production is
a. differing national tastes b. diseconomies of scale in production c. a high world price for a good d. resources are plentiful in all nations e. people have limited wants for domestically produced goods and services
Other things being equal, an increase in U.S. interest rates would be likely to cause an increase in the capital account surplus or a decrease in the capital account deficit
a. True b. False Indicate whether the statement is true or false
When compared to those in poor countries, poor people in the United States receive
A. Far more goods and services. B. Somewhat fewer goods and services. C. Far fewer goods and services. D. About the same amount of goods and services.