L11 Econ 1011 Lecture Notes - Lecture 1: Sudeshna, Rafting, Economic Surplus
22 Oct 2015
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He is completely self-sufficient through hunting, fishing, and farming. He has not been in the city to buy anything in five years. One can infer: the scarcity principle does not apply to forest, forest is not required to make choices, the scarcity principle still applies because more hunting means less fishing and farming, forest is very satisfied. Larry was accepted at three different graduate schools, and must choose one. Elite u costs ,000 per year and did not offer larry any financial aid. Larry values attending elite u at ,000 per year. ,000 per year, and offered larry an annual ,000 scholarship. Noname u costs ,000 per year, and offered larry a full ,000 annual scholarship. A ticket costs and she will have to cancel her dog- sitting job that pays . The economic surplus from buying the ticket online is: , , , sh.
