Melissa is a self-employed lawyer who chooses a higher-priced restaurant 2 miles from home over a cheaper restaurant 15 miles from home. which of the following is the most likely explanation for her behavior?
a. the opportunity cost of her time is very low.
b. she doesn't take travel time into consideration.
c. she doesn't like to cook or doesn't know how.
d. the prices at the more expensive restaurant understate the opportunity cost of eating there.
e. the higher monetary cost of the more expensive restaurant is offset by the higher opportunity cost of the lower-priced restaurant

As manager of kids skids, meghan wants to develop her relationship management skills. in order to do this, she learns how to

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

When immigration adds to the size of the domestic labor pool, which of the following is likely to occur? a. wages decrease. b. productivity increases. c. consumption decreases. d. minimum wage increases.