ECO 365 FINAL EXAM 2017
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1. During the winter break, Sam decides to go for a skiing vacation in Aspen instead of taking piano lessons. The opportunity cost of the skiing vacation is the:
cost of accommodation and food in Aspen.
value of piano lessons.
cost of buying a piano.
amount paid to the skiing instructor.
 2. Which of the following is an example of a negative externality?
Smith reducing the consumption of imported wine following an increase in the price of imported wine
Phoebe refusing to contribute to the buildi...
- Exam (elaborations)
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ECO 365 FINAL EXAM 2017•ECO 365 FINAL EXAM 2017
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1. During the winter break, Sam decides to go for a skiing vacation in Aspen instead of taking piano lessons. The opportunity cost of the skiing vacation is the:
cost of accommodation and food in Aspen.
value of piano lessons.
cost of buying a piano.
amount paid to the skiing instructor.
 2. Which of the following is an example of a negative externality?
Smith reducing the consumption of imported wine following an increase in the price of imported wine
Phoebe refusing to contribute to the buildi...
ECO 365 FINAL EXAM 2017
1. During the winter break, Sam decides to go for a skiing vacation in Aspen instead of taking piano lessons. The opportunity cost of the skiing vacation is the:
cost of accommodation and food in Aspen.
value of piano lessons.
cost of buying a piano.
amount paid to the skiing instructor.
 2. Which of the following is an example of a negative externality?
Smith reducing the consumption of imported wine following an increase in the price of imported wine
Phoebe refusing to ...
- Answers
- • 10 pages's •
-
ECO 365 FINAL EXAM 2017•ECO 365 FINAL EXAM 2017
Preview 1 out of 10 pages
ECO 365 FINAL EXAM 2017
1. During the winter break, Sam decides to go for a skiing vacation in Aspen instead of taking piano lessons. The opportunity cost of the skiing vacation is the:
cost of accommodation and food in Aspen.
value of piano lessons.
cost of buying a piano.
amount paid to the skiing instructor.
 2. Which of the following is an example of a negative externality?
Smith reducing the consumption of imported wine following an increase in the price of imported wine
Phoebe refusing to ...