Jamil has ten pairs of football boots and saleem has none. A pair of football boots cost Rs50. to produce. If jamil values an additional pair of boots at RS100 and saleem values a pair of boots at Rs40, then the maxime ?

Related Mcqs:

Suppose there are three identical vases available to be purchased. Buyer 1 is willing to pay Rs30 for one, buyer 2 is willing to pay Rs25 for one, and buyer 3 is willing to pay Rs20 for one. If the price is Rs25, how many vases will be sold and what is the value of consumer surplus in this market ?

A. Three vases will be sold, and consumer surplus is Rs80 B. One vase will be sold, and consumer surplus is Rs5. C. One vase will be sold, and consumer surplus is Rs30. D. Three vases will be sold, and consumer surplus is Rs0. E. Two vases will be sold, and consumer surplus is Rs5....

If a benevolent social planner chooses to produce more than the equilibrium quantity of a good, then ?

A. the value placed on the last unit of production by buyers exceeds the cost of production B. the cost of production on the last unit produced exceeds the value placed on it by buyers. C. consumer surplus is maximized D. total surplus is maximized E. producer surplus is maximized...

An increase in the price of a good along a stationary supply curve______________?

A. increase producer surplus B. does all the things describe in these answers C. decrease producer surplus D. improves market equity...

If buyers are rational and there is no market failure ?

A. free market solutions are efficient B. free market solutions maximize total surplus C. all of these answers D. free market solutions are equitable E. free market solutions are efficient and free market solutions maximize total surplus...

If a producer has market power (can influence the price of the product in the market) then free market solutions ?

A. are equitable. B. are efficient C. maximize consumer surplus D. are inefficient...