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Author Question: A consumer purchases a book by driving across town to a bookstore, standing in line for five minutes ... (Read 184 times)

ghost!

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on: Jul 1, 2018
A consumer purchases a book by driving across town to a bookstore, standing in line for five minutes to pay the cashier, and then pays 5.
 
  The same book is purchased by another consumer who spends 2 minutes placing the order over the internet for 10. The book necessarily cost the first consumer less. Indicate whether the statement is true or false

Question 2

Which of the following statements is an example of agenda control?
 
  a. A governor vetoes a concealed carry law.
  b. A state legislature puts on the ballot a 500 million high-tech infrastructure initiative.
  c. A state education department implants a federal education law.
   d. A private citizen sues to prevent her home being taken through eminent domain.


aham8f

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Reply #1 on: Jul 1, 2018
Answer to Question 1

False. The opportunity cost of driving across town and standing in line may have raised the total cost of the book to the first consumer to more than 10.

Answer to Question 2

b


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