What industry was the main economic impetus behind antebellum migration to the West Coast?

Lawrence is a photographer. He has $230 to spend and wants to buy either a flash for his camera or a new tripod. Both the flash and tripod cost $230, so he can only buy one. This illustrates the principle that

a. trade can make everyone better off. b. people face trade-offs. c. rational people think at the margin. d. people respond to incentives.

A farmer with $1000 worth of crops in the field faces a .10 probability that a hail storm will destroy the value of her crop before she can harvest it. If she is risk averse, the most she would be willing to pay to insure against this loss is

a. $0. b. $10. c. $100. d. $900.