In chapter 1, you learned that buying and selling textbooks are two separate decisions made at the margin. textbooks create value both when they are bought and when they are sold. think about your decision to buy the textbook for this course. you paid $225 for the book, but you would have been willing to pay $500 to use the book for the semester. suppose that at the end of the semester you could keep your textbook or sell it back to the bookstore. once you have completed the course, the book is worth only $70 to you. the bookstore will pay you 50% of the original $225. how much total value have you gained?

You would like to purchase one class a share of berkshire hathaway through your scottrade brokerage account. scottrade charges a ​$6 commission for online trades. you log into your​ account, check the​ real-time quotes for berkshire hathaway​ (you see a bid price of ​$262 comma 900 and an ask price of ​$263 comma 730​) and submit your order. a. what is the current​ bid/ask spread for berkshire hathaway class a​ shares? b. if scottrade routes your buy order to the​ nyse, where berkshire hathaway is​ listed, what's the potential minimum your total transaction costs will​ be? c.​ if, instead, scottrade routes your buy order to​ nasdaq, where berkshire hathaway is not​ listed, what's the potential maximum your total transaction costs will​ be? d. regardless of how your trade is​ executed, based on the​ bid/ask spread, what is the market value of your​ trade? a. the current​ bid/ask spread for berkshire hathaway class a shares is ​$ nothing. ​(round to the nearest​ dollar.)