Which of the Following Would Be True of the Seller's

question 126

Multiple Choice

Which of the following would be true of the seller's cost?

• A)the seller would be eager to sell her services at a price higher than her cost
• B)the seller would refuse to sell her services at a price lower than her cost
• C)the seller would be indifferent about selling her services at a price equal to her cost
• D)all of the above are true

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Definitions:

Majority Vote

A method of decision-making where the option that receives more than half of the votes wins.

Negative Externalities

Costs experienced by a third party not involved in a transaction, arising from production or consumption of goods and services.

Majority Voting

A decision-making process where the option that receives more than half of the votes cast by eligible voters is chosen.

Economic Efficiency

The optimal distribution of resources to maximize productivity and fulfill consumer preferences with minimal waste.