Mark Values His Drum Set at $800 and Ella Values

question 177

Multiple Choice

Mark values his drum set at $800 and Ella values her guitar at $1,000. Suppose that Mark trades his drum set for Ella's guitar.

• A) This trade makes Ella worse off by $200.
• B) This trade makes Mark better off by $200.
• C) Mark must value Ella's guitar for at least $800, and Ella must value Mark's drum set for at least $1,000.
• D) This trade decreases total value by moving the guitar and drum away from people who placed a high value on them.

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