Suppose that the Hoang family, like many farmers in the village of Boi Khe, incur transaction costs
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Question:
Suppose that the Hoang family, like many farmers in the village of Boi Khe, incur transaction costs equal to 22% only if when they decide to sell their sugarcane in the Ha Noi regional market and 30% only if when they decide to sell in the Hai Phong regional market. Refer to Figure 11-5.
(a) Given these transaction costs, the Hoang household’s net price received from selling sugarcane in Hai Phong is?
(b) Given these transaction costs, what is the total quantity of sugarcane sold to the Hai Phong regional market.
Related Book For
An Introduction to Statistical Methods and Data Analysis
ISBN: 978-1305269477
7th edition
Authors: R. Lyman Ott, Micheal T. Longnecker
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