Question: Question 1 6 ( 1 point ) Lawrence is a photographer. He has $ 2 3 0 to spend and wants to buy either a

Question 16(1 point)
Lawrence is a photographer. He has $230 to spend and wants to buy either a flash for his camera or a new tripod. Both the flash and tripod cost $230, so he can only buy one. This illustrates the principle that
trade can make everyone better off.
people face trade-offs.
rational people think at the margin.
people respond to incentives.
Question 16(1 point) Lawrence is a photographer. He has $230 to

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