Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many clocks will Belize consume?

In a market supply and demand graph, the socially efficient outcome occurs

a. Where the private marginal benefits intersect with the social marginal costs b. Where the private marginal benefits intersect with the private marginal costs c. Where the social marginal benefits intersect with the social marginal costs d. Where the social marginal benefits intersect with the private marginal costs e. Where externalities are maximized

Refer to Scenario 12.1. What is the probability of Simon trying to rescue the man and Paula not helping?

A) 9% B) 21% C) 49% D) 70%