You decide to go skiing this weekend. It costs $50 for transportation, $50 for lodging, $30 for ski lift tickets and you could have earned $100 as a waiter at a job you love so much you would do it as a volunteer. What is the total cost of the ski weekend?

Are sellers who practice arbitrage taking advantage of buyers?

What will be an ideal response?

The substitution effect of a decrease in the wage rate would lead most people to

a. supply less labor and demand less leisure. b. supply less labor and demand more leisure. c. supply more labor and demand less leisure. d. supply more labor and demand more leisure.