Questions: Chapter 2 What opportunity costs did you incur in reading chapter 1 of your macroeconomics textbook? If you r
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Questions: Chapter 2 What opportunity costs did you incur in reading chapter 1 of your macroeconomics textbook? If you r
Questions: Chapter 2 What opportunity costs did you incur in reading chapter 1 of your macroeconomics textbook? If you read three more chapters of the book today, would your opportunity cost (per chapter) increase? Explain. How much time could you spend on homework in a day? How much time do you spend on homework in a day? How do you decide how much time to spend on homework in a day? Chapter 3 1. Assume that a student told an instructor that he absolutely needed an "A" in the class and would pay anything to get it. If this were true, what shape would his demand curve have? Why isn't this realistic? Role of Government I 1. Could local fire departments be privately operated, with their services sold directly to customers? What problems would be involved in such a system?