Refer to the scenario above. If Jill values fairness, ________
A) she will not accept any offer made by Jack
B) Jack should make the lowest possible offer to Jill
C) she will accept the offer when Jack offers $25
D) Jack should not play the game
C
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If the United States, at the point where it is currently producing, must give up the production of 500 bicycles (B) to produce 20 additional tractors (T) with the same resources, the opportunity cost of producing 100 bicycles is _______ tractor(s).
A) 1 B) 4 C) 25 D) 100
Most modern countries have prohibitions on the trading of human organs in the marketplace
What impact do you believe such laws have had on the availability of organs for patients that need them? Furthermore, which people are most likely to be able to obtain the organs that they require and why? Explain the ethical dilemma that is at work that makes the strict application of basic economic principles difficult to put into practice in cases like this.