Latest Questions & Answers

Q: When two individuals enter into an exchange, you can be sure

When two individuals enter into an exchange, you can be sure that one person benefits and that the other person loses. Do you agree or disagree with this statement? Explain your answer.

See Answer

Q: Represent the following data in bar graph form (a)

Represent the following data in bar graph form (a) Sales of hot dogs and sales of hot dog buns (b) The price of winter coats and sales of winter coats (c) The price of personal computers and the pro...

See Answer

Q: Why do people enter into exchanges?

Why do people enter into exchanges?

See Answer

Q: A change in X will lead to a change in Y;

A change in X will lead to a change in Y; the predicted change is desirable, so we should change X. Do you agree or disagree? Explain.

See Answer

Q: What does an economist mean if she says that there are no

What does an economist mean if she says that there are no $10 bills on the sidewalk?

See Answer

Q: Ivan stops studying before the point at which his marginal benefits of

Ivan stops studying before the point at which his marginal benefits of studying equal his marginal costs. Is Ivan forfeiting any net benefits? Explain your answer.

See Answer

Q: How would an economist define the efficient amount of time spent playing

How would an economist define the efficient amount of time spent playing tennis?

See Answer

Q: Economists say that individuals make decisions at the margin. What does

Economists say that individuals make decisions at the margin. What does this mean?

See Answer

Q: A layperson says that a proposed government project simply costs too much

A layperson says that a proposed government project simply costs too much and therefore shouldn’t be undertaken. How might an economist’s evaluation be different?

See Answer

Q: A friend pays for your lunch. Is this an example of

A friend pays for your lunch. Is this an example of a “free lunch”? Why or why not?

See Answer