1. Sid is feeling hangry at work, so he goes to the vending machine; each item in the vending machine costs $2. His three highest valued items in the vending machine are:

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part 2.

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#1-cheese popcorn #2 a king size Snicker bar #3-a can of V8 vegetable juice Given what rational economic theory predicts Sid will select, we would conclude that the opportunity cost of the choice he makes from the vending machine is: O $2 O the cheese popcorn O the king size Snicker bar O the can of V8 vegetable juice O all three of the items listed above the can of V8 vegetable juice and the king size Snicker bar Undo (Ctrl+Z) Consider the local market demand for Jose Abreau autographed baseballs given by the MBbuyer (-WTP-PD) data below: unit 234560 MBouyer 2 3 $100 $80 $70 4 $65 5 $60 If the balls sell for a price of P-$75 each, the quantity demanded would be ✔[Select] 1 6 $50 and the resulting total consumer surplus would be #1-cheese popcorn #2 a king size Snicker bar #3-a can of V8 vegetable juice Given what rational economic theory predicts Sid will select, we would conclude that the opportunity cost of the choice he makes from the vending machine is: O $2 O the cheese popcorn O the king size Snicker bar O the can of V8 vegetable juice O all three of the items listed above the can of V8 vegetable juice and the king size Snicker bar Undo (Ctrl+Z) Consider the local market demand for Jose Abreau autographed baseballs given by the MBbuyer (-WTP-PD) data below: unit 234560 MBouyer 2 3 $100 $80 $70 4 $65 5 $60 If the balls sell for a price of P-$75 each, the quantity demanded would be ✔[Select] 1 6 $50 and the resulting total consumer surplus would be

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1 Option A 2 2 Quantity dema... View the full answer