The opportunity cost of attending a college basketball game tonight would increase if:
a. Your friend offers to pay you more for your ticket, because he really wants to go
b. Your favorite player on the teams is injured and will not play tonight.
c. Your economics TA decides to offer a review session, for which attendance will count 10% of your course grade, at the same time as the game
d. Either a. or c. occurs
d
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The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the smallest amount of deadweight loss?
A) A B) B C) C D) D E) A and D
The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, how many students are enrolled in college?
A) 12 million B) 20 million C) 16 million D) 24 million