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ECO 365 FINAL EXAM 2017
- Exam (elaborations) • 10 pages • 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...
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