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Author Question: Steve and Karen decide to attend the same concert when they are each given free tickets to it. We ... (Read 67 times)

tth

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  • Posts: 579
on: Jun 29, 2018
Steve and Karen decide to attend the same concert when they are each given free tickets to it. We know that
 
  A) both bear the same opportunity cost because they are seeing the same thing.
  B) both bear the same opportunity cost because the tickets have the same face value.
  C) both bear an opportunity cost that depends on what each person is giving up to attend the concert.
  D) neither bears an opportunity cost since the tickets were given free to them.

Question 2

By summing the quantities demanded by individuals at each price we obtain the
 
  A) equilibrium price.
  B) market demand curve.
  C) market supply curve.
  D) individual demand curve.


dellikani2015

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


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