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Sublight2097 Sublight2097
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8 years ago
What effect on the price of hiring a lawyer to draw up a will would the opportunity-cost theory predict as a consequence of legislation requiring the use of a lawyer in all real estate transactions?
A) A higher price as the market becomes flooded with lawyers.
B) A higher price as lawyers find it costs them more to draw up wills
C) No effect because prices are determined by demand, not by cost.
D) A lower price as the market becomes flooded with lawyers
E) A lower price as lawyers find they can now obtain their desired income level with lower fees
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SmooothSmoooth
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#1
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8 years ago
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Sublight2097 Author
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#2
8 years ago
Seriously, you've been tremendously helpful! Thank you.
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#3
8 years ago
No problemo Happy Dummy
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#4
3 years ago
Thanks
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