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Ann [662]
3 years ago
6

Beth needs a new roof. She finds Clancy, a roofing contractor, through an ad he posted in the local newspaper. Clancy paid $60 t

o post the ad in the newspaper. After Beth and Clancy agree on the price for the new roof, they sign a contract, which Beth has a law firm write up for $95, stating that Clancy will install Beth's new roof for $2,200. The transaction costs associated with this exchange are___________ .
Business
1 answer:
BARSIC [14]3 years ago
6 0

Answer:

The transaction costs associated with this exchange are $155

Explanation:

The computation of the transaction cost which is associated with this exchange is shown below:

= Ad charges in the newspaper + law firm write up charges

= $60 + $95

= $155

It includes various cost like - transportation cost, legal fees, communication charges, etc.

The installation of Beth's new roof is not considered in the computation part because it is not an exchange transaction cost. So, this cost is ignored.

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Answer:

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Explanation:

Data provided in the question:

Shrimps Bubba catches per year = 4,000 pounds

Shrimps that Bobby can catch per year = 3,000 pounds

Therefore,

The marginal contribution of Bobby in the output if Bobby is hired is 3,000 pounds of shrimp

Hence,

The total output of his shrimp business is Bubba hires Bobby will be

= Output of Bubba per year + Output of Bobby per year

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Answer:

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