You Want to Sell Your Old IPad That You No

question 32

Multiple Choice

You want to sell your old iPad that you no longer use,and your cousin wants to give you $300 for it.If you decide to sell your iPad to your cousin,you'll have to pay $40 for shipping the iPad to your cousin.As a rational decision maker,you should:

• A)sell it because the marginal benefit is smaller than the marginal cost.
• B)not sell it because the marginal benefit is smaller than the marginal cost.
• C)sell it because the marginal benefit is greater than the marginal cost.
• D)not sell it because the marginal benefit is greater than the marginal cost.
• E)sell it because the marginal benefit is equal to the marginal cost.

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Definitions:

Repossession

Repossession is the act of reclaiming possession of property when a buyer defaults on payment or terms of a contract.

Insufficient Offer

A proposal or bid that fails to meet the minimum requirements or expectations, particularly in negotiations or transactions.

Offer of Compromise

A proposal made by one party to settle a dispute or lawsuit outside of court, often involving the payment of money.

Time Limit

A specific duration within which an action must be initiated or completed.