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Frost Frost
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4 years ago

Lou buys a Star Wars: The Force Awakens poster at a garage sale for $30 and resells it on eBay to Kyle for $60. Which of the following statements is true?



▸

It is not possible for Kyle to enjoy any consumer surplus from this transaction.



▸

The transaction has made Lou better off and Kyle worse off.



▸

The transaction is economically inefficient.



▸

The transaction has made Lou and Kyle better off.

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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meigsflameigsfla
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4 years ago
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