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Chapter 1, Problem 3P
To determine

The cost of attaining a two-way airline ticket.

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How would you choose between a diamond and a bottle of water in the different scenarios described in the video? You MUST explain your answer using economic concepts you have learned in the course so far.  What did you or your family do during the severe shortage of toilet paper at the beginning of the pandemic in 2020?  How would you value a bag of 12 toilet paper compared to a diamond back then? Would it be different compared to during normal circumstances? Explain your answer.
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