Alice and Bob are each confronted with the choice between: A. Purchasing a set of headphones at the bookstore on campus for $25. OR B. Purchasing an identical set of headphones downtown for $10. If Alice chooses option A, but Bob chooses option B, which of the following must be true if Alice and Bob are both rational? - Alice and Bob face the same inconvenience associated with going downtown - for Bob, the inconvenience associated with traveling downtown was less than $15 - for Alice, the inconvenience associated with traveling downtown was greater than $10 - for Bob, the inconvenience associated with traveling downtown was greater than $15
Alice and Bob are each confronted with the choice between: A. Purchasing a set of headphones at the bookstore on campus for $25. OR B. Purchasing an identical set of headphones downtown for $10. If Alice chooses option A, but Bob chooses option B, which of the following must be true if Alice and Bob are both rational? - Alice and Bob face the same inconvenience associated with going downtown - for Bob, the inconvenience associated with traveling downtown was less than $15 - for Alice, the inconvenience associated with traveling downtown was greater than $10 - for Bob, the inconvenience associated with traveling downtown was greater than $15
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter5: Supply, Demand, And Price: Applications
Section5.3: Application 3: 10 A. M. Classes In College
Problem 1ST
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Alice and Bob are each confronted with the choice between:
A. Purchasing a set of headphones at the bookstore on campus for $25.
OR
B. Purchasing an identical set of headphones downtown for $10.
If Alice chooses option A, but Bob chooses option B, which of the following must be true if Alice and Bob are both rational?
- Alice and Bob face the same inconvenience associated with going downtown
- for Bob, the inconvenience associated with traveling downtown was less than $15
- for Alice, the inconvenience associated with traveling downtown was greater than $10
- for Bob, the inconvenience associated with traveling downtown was greater than $15
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