Ask Question
BusinessBusiness
17 April, 15:43

Chuck offers $240,000 for a house. The seller turns down the offer but says she will sell the house for $260,000. However, Chuck refuses to pay the higher price. If Chuck is following the economic decision rule, the marginal benefit of the house to:

+3
Answers (1)
  1. 17 April, 18:45
    0
    Chuck must be less than $260,000

    Explanation:

    The economic decision rule is: Do it if that marginal benefit exceeds the marginal cost and Since Chuck was unwilling to purchase the house at $260,000, we can deduce that the marginal benefit of purchasing the house must be less than $260,000 due to the fact that the seller turns down the offer but says she will sell the house for $260,000.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Chuck offers $240,000 for a house. The seller turns down the offer but says she will sell the house for $260,000. However, Chuck refuses to ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
US customers are finally acknowledging that drinking soda may not be good for their health. At the same time governmental, regulatory, and other public interest forces complain continuously about and increasingly threaten the soft drink industry.
Answers (1)
Why are all three factors of the Fraud Triangle important, as it relates to the act of fraud? The absence of one or more factors suggests that ...
Answers (1)
In which business model does a company give another company the right to use its trademarks?
Answers (1)
Imagine that a collection of 1,200 pea plants from one of Mendel's experiments had 200 that were tall plants with green pods, 400 that were tall with yellow pods, 400 that were short with green pods, and 200 that were short with yellow pods.
Answers (1)
Preferred stockholders:a. must receive more dividends per share than the common stockholders. b. must receive dividends every year. c. have the right to receive dividends only in the years the board of directors declares dividends. d.
Answers (1)
New Questions in Business
K Inc. has provided the following data for the month of May: Inventories: Beginning Ending Work in process $ 17,000 $ 12,000 Finished goods $ 46,000 $ 50,000 Additional information: Direct materials $ 57,000 Direct labor cost $ 87,000 Manufacturing
Answers (1)
Marcy Tucker received the following items this year. Determine to what extent each item is included in her AGI. (Leave no cells blank - be sure to enter "0" wherever required.) A $25,000 cash gift from her parents.
Answers (1)
Analysis of daily output of a factory during a 8-hour shift shows that the hourly number of units y produced after t hours of production is
Answers (1)
In each of the following situations, state whether the bonds will sell at a premium or discount. Required a. Valley issued $300,000 of bonds with a stated interest rate of 7 percent.
Answers (1)
Which strategy is most likely to reduce and prevent violence in our society? stop-and-frisk policing three-strikes-and-you're-out laws school anti-bullying awareness efforts reducing nighttime curfews
Answers (2)
Home » Business » Chuck offers $240,000 for a house. The seller turns down the offer but says she will sell the house for $260,000. However, Chuck refuses to pay the higher price. If Chuck is following the economic decision rule, the marginal benefit of the house to:
Sign Up Forgot Password?