You and your sister share a room. Your sister prefers sleeping with all windows closed, while you prefer sleeping with at least one window open to let in some fresh air
Since neither of you are willing to give up your own preferences, you end up fighting every night. Is there a possible solution to this problem if you value keeping your windows open at night for $100, while your sister values keeping the windows closed at night for $80?
Because you value keeping the windows open at $100 while your sister values keeping windows closed at $80, an efficient solution is possible if you decide to pay her an amount between $80 and $100 as a compensation for keeping the windows open. The exact amount that you'll have to pay her will depend on your respective bargaining powers.
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Which of the following statements are CORRECT?
I. The average economic growth rate in real GDP per person in the United States over the last century was 5 percent per year II. The United States has the highest economic growth rate of any nation. A. II only B. neither I nor II C. both I and II D. I only
From 1970 to 2010, the real price of eggs decreased and the total annual consumption of eggs decreased
Which of the following would cause an unambiguous decrease in the real price of eggs and an unambiguous decrease in the quantity of eggs consumed? A) A shift to the right in the supply curve for eggs and a shift to the right in the demand curve for eggs. B) A shift to the left in the supply curve for eggs and a shift to the right in the demand curve for eggs. C) A shift to the left in the supply curve for eggs and a shift to the left in the demand curve for eggs. D) none of the above