A Supplier of a Factor of Production Has a Reservation

question 98

Multiple Choice

A supplier of a factor of production has a reservation price of $100.The purchaser of the factor of production has a reservation price of $200.If the factor of production is unique,then:

• A)there will be no transaction as the reservation prices are unequal.
• B)the transaction will occur and the price will be $150.
• C)the transaction will occur and the price will be $200.
• D)the transaction will occur and the price will be $100.

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Definitions:

Ultimate Concern

A term reflecting the deepest values or existential questions that are of the utmost importance to an individual, often discussed in the context of existential psychology.

Most Obvious

Refers to the clarity or ease with which something can be recognized or understood; the most readily apparent.

Forgetting

The process by which information or memories become inaccessible over time, often due to decay or interference in the memory storage process.

Being

The essence or existence of a person as considered in existentialism and philosophy, generally questioning the nature of existence.