Suppose that you purchased a ticket to a jazz festival for $100 from an online ticket broker. Once you arrived at the festival, you discovered that parking costs you an additional $15. In this situation, the additional $15 you pay for parking is an example of

A. marginal cost.
B. an inefficient cost.
C. an economic loss.
D. opportunity cost.

Answer: A

Economics

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During the colonial period,

(a) both men and women married on average during their teenage years. (b) women married on average during their teenage years and men during their early 20s. (c) both men and women married on average at ages between 20 and 25. (d) both men and women married on average during their late 20s.

Economics

Which of the following is an accurate statement about the price index?

a. It provides an equivalent measure of prices paid for goods and services over time. b. It provides an efficient way to catalog the prices of goods and service for each year. c. It provides a standard method to calculate the demand curve for each year. d. It provides a necessary means to determine the supply curve over time.

Economics