Give up three apples in exchange for one banana

Assignment Help Business Economics

Reference no: EM13851853

Suppose Jimmy says that he is willing to give up three apples in exchange for one banana, or give up one banana in exchange for three apples. Either trade is alright with him. Suppose that apples cost $2 and bananas cost $1. What trade, if any, would you suggest that Jimmy make, and why?

Please explain

Reference no: EM13851853

Questions Cloud

What is the sunk cost of this purchase : You have just purchased a house for $400,000, paid $24,000 for legal fees and $17,000 for renovations. The market price of the house does not change. If the sales tax on a house were 3% (to be paid by you if you sell the house), what is the sunk cost..

Calculate the standard normal distribution value : Calculate the standard normal distribution value

What is the opportunity cost of an extra : What is the opportunity cost of an extra 10h shift at work, if your alternatives are to spend a maximum of 4h with friends at a bar (valued at 30$/h), doing problem sets for a maximum of 2h (valued at 10$/h), and suing for any amount of time (valued ..

Compare innate immunity with specific immunity : 1) Compare Innate Immunity with Specific Immunity (Explain three major differences between them). 2) Briefly explain Innate immunity (explain different level of first and second lines of defense)

Give up three apples in exchange for one banana : Suppose Jimmy says that he is willing to give up three apples in exchange for one banana, or give up one banana in exchange for three apples. Either trade is alright with him. Suppose that apples cost $2 and bananas cost $1. What trade, if any, would..

What jobs had she held in the past : What should go in the section "Sources": in this section write about the author, A. Fadiman; where did she go to school, college? What was her major? What jobs had she held in the past? How did she get this particular assignment

Some of strategies for dealing with emotion in negotiation : Conduct a light research on the role of emotion in negotiation process, and the effect it has on the outcome of the negotiation. Does emotion delay the negotiation process, or prevents parties from reaching an agreement? Why or why not? Evaluate some..

Are threats or anger more effective in negotiation : Hot or Cold: Is Communicating Anger or Threats More Effective in Negotiation. Are threats or anger more effective in negotiation? Please discuss the authors’ findings on the issue, and provide your own input based on the experience.

Possible energy from photosynthetic algae : If you wanted to get the most possible energy from photosynthetic algae, should you eat algae directly or feed algae to a cow, and then eat a burger made from that cow? Explain your answer.

User Account

All Pages