Robert Wants to Sell His Old Table to Mike

question 48

Multiple Choice

Robert wants to sell his old table to Mike.The lowest price Robert is willing to accept is $75 but he wishes to sell it at $105.The highest price Mike is willing to pay for the table is $82 but he wishes to purchase it at $73.What is the value of the bargaining zone?

• A) $7
• B) $23
• C) $2
• D) $32

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Ocean Liner

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The large set of interrelated economic production and consumption activities that aid in determining how scarce resources are allocated.

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A medium of exchange that facilitates the transfer of goods and services, acting as a unit of account, a store of value, and sometimes, a standard of deferred payment.