John is looking to sell his car and Mary is looking to buy it. John values the car at $2000 and Mary values it at $3000. John offers to sell it to Mary at a price of $3500. Which of the following is true: Group of answer choices Mary will not accept the offer and the total surplus will be $1000. None of the options are correct Mary will accept the offer but the total surplus will be less than $1000 Mary will not accept the offer and the total surplus will be 0. Mary will accept the offer and the total surplus will be $1000

John is looking to sell his car and Mary is looking to buy it. John values the car at $2000 and Mary values it at $3000. Which of the following is true (select all that apply):Group of answer choicesJohn will accept any price above $2000The sale will only occur if the price is between 2000 and 3000.John will only accept prices between $2000 and $3000.Mary will accept any price above $2000None of the options are correct

John is looking to sell his car and Mary is looking to buy it. John values the car at $2000 and Mary values it at $3000. John places an add in the newspaper and Mary must either accept the offer or ignore it. Which of the following prices would be the best price for John to advertise the car for?Group of answer choices$2000John is indifferent between any of these prices.$2999$3500$2500

William owns a car that he values at $5000. Jackson values the car at $7500. The negotiations between them for a potential trade are as follows: William offers a price to Jackson. If Jackson accepts, trade takes place at that price. If Jackson rejects, William keeps the car and Jackson buys a similar car which he values the same as William’s car from James for the price of $6000. What will the outcome be of the negotiation process? Group of answer choices William suggests Jackson pay $6125 and Jackson accepts the deal. William suggests Jackson pay $5000 and Jackson accepts the deal. William suggests Jackson pay $7500 and Jackson accepts the deal. William suggests Jackson pay $6000 and Jackson accepts the deal. William suggests Jackson pay $5000 and Jackson rejects the deal.

A steel manufacturer (SM) and BHP are negotiating the price of iron ore. First, SM proposes a price p. Following this offer, BHP can accept or reject. If BHP accepts, SM gets 300 – p and BHP gets p. If BHP rejects the offer, SM gets 0 and BHP 100. What is the outcome of the negotiations?Group of answer choicesSM offers a price of 99 and BHP acceptsSM offers a price of 101 and BHP rejectsSM offers a price of 300 and BHP rejectsSM offers a price of 100 and BHP acceptsSM offers a price of 300 and BHP accepts

Chrissie owns a vintage guitar that she values at $0. Mark would like to buy the guitar and values it at $1000. The negotiations are as follows. Mark offers a price to Chrissie. If Chrissie agrees trade takes place at the agreed price. If Chrissie rejects the offer, negotiations end and each party receives a payoff of $0. What is the outcome of the negotiations?Group of answer choicesMark offers a price close to $1000 and Chrissie rejects the offerTrade takes place at a price of $1000.Trade takes place at a price of $500Trade takes place at a price of $0Chrissie rejects any offer Mark makes.