You have 40,000 frequent flier miles. You could exchange your miles for a round trip ticket to

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You have 40,000 frequent flier miles. You could exchange your miles for a round trip ticket to Bermuda over spring break. Does that mean your flight to Bermuda would be free? Explain your reasoning.

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Microeconomics

ISBN: 978-1292079578

Global Edition 1st Edition

Authors: David Laibson, John List

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Question Posted: Dec 15, 2015 07:44 AM

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You have 40,000 frequent flier miles. You could exchange your miles for a round trip ticket to

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It does not You could use your miles for other travel and so there is an opportunity cost ...View the full answer

Microeconomics

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