You won a free ticket to see the latest Star Trek movie this Friday night (which you can costlessly resell for its face value of $15). Your favorite band is also performing on Friday and is your only alternative activity. Friday is your last chance to see either the movie or the band. Tickets to see your favorite band cost $30, and on any given day, you would be willing to pay as much as $50 for a ticket. Based on this information, what is your opportunity cost of going to see the Star Trek movie on Friday?

Vertical equity is the concept that people with different levels of income should be treated differently

a. True b. False Indicate whether the statement is true or false

Education yields positive externalities. For example,

a. colleges and universities have benefited, in recent years, from increases in tuition paid by students. b. as a result of earning a college degree, a person becomes a more productive worker and benefits by earning higher wages. c. a more educated population tends to result in lower crime rates. d. All of the above are correct.