If There Is a Total of 50,000 Square Feet of Floor

question 31

Multiple Choice

If there is a total of 50,000 square feet of floor space,and the hardware department utilizes 12,500 square feet,what percent of the total square footage is in hardware?

• A)20%
• B)25%
• C)40%
• D)80%

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Definitions:

Coase Theorem

An economic theory that suggests that if property rights are clearly defined and transaction costs are negligible, private negotiations will lead to the efficient resolution of disputes regardless of the initial allocation of rights.

Coase Theorem

A theory suggesting that if trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property.

Coase Theorem

A legal and economic theory stating that if trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property rights.

Transaction Costs

The expenses incurred when buying or selling a good or service, which can include search, bargaining, and enforcement costs.