John has two hours of free time this evening. He ranked his alternatives, first go to a concert, second go to a movie, third study for an economics exam, and fourth answer his e-mail. What is the opportunity cost of attending the concert for John?

Van, whose utility of wealth curve is shown in the above figure, owns a home that is valued at $100,000. There is a 10 percent chance that the house will be destroyed by hurricane. The value of insurance to Van is

A) $10,000. B) $15,000. C) $20,000. D) $30,000.

Investments in public infrastructure ________

A) are not subject to diminishing returns B) are a misallocation of national savings C) typically decline during periods of rapid economic growth D) may boost productivity and income