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The increased time spent commuting is a cost you will incur if you accept the new job.
That additional time spent commuting-or equivalently, the benefit you would get from spending
that time doing something else-is an opportunity cost the new job.
b.- Yes. One of the benefits of the new job is that you will be making 50000. But if you take the new
job, you will have to give up your current job, that is, you have to give up your current salary of
45000. So 45000 is one of the opportunity costs of taking the new job.
c.- No. A more spacious office is an additional benefit of your new job and does not involve
forgoing something else. So it is not opportunity cost.
3)a.- This illustrates the concept that markets usually lead to efficiency. Any seller who wants to sell
a book for at least 30 does indeed sell to someone who is willing to buy a book for 30. As a
result,there is no way to change how used textbooks are distributed among buyers and sellers in a
way that would make one person better off without making someone else worse off.
b.- This illustrates the concept that there are gains from trade. Students trade tutoring services based
on their different abilities in academic subjects.
c.- This illustrates the concept that when markets dont achieve efficiency, government intervention
can improve societys welfare. In this case the market, left alone,will permit bars and nightclubs to
impose costs on their neighbors in the form of loud music,cost that the bars and nightclubs have no
incentive to take into account. This is an inefficient outcome because societyas a whole can be made
better off if bars and nightclubs are induced to reduce their noise.
d- This illustrates the concept that resources should be used as efficiently as possible to achieve
societys goals. By clos-ing neighborhood clinics and shifting funds to the main hospital, better
health care can be provided at a lower cost.
e.- This illustrates the concept that markets move toward equilibrium. Here, because books wit the
same amount of wear and tear sell for about the same price,no buyer or seller can be made better off
by engaging in a different trade than he or she undertook. This means that the market for used
textbooks has moved to an equilibrium.
4.-a) This does not describe an equilibrium situation. Many students should want to change their
behavior and switch to eating at the restaurants. Therefore,the situation described is not an
uquilibrium. An equlibrium will be established whwn students are equally as well off esting at the
restaurants as eating at the dining hall-which would happen if,say priices at the restaurants were
higher than at the dining hall.
b.- This does describe an equilibrium situation. By changing your behavior and riding the bus, you
would not be made better off. Therefore, you have no incentive to change your behavior.
2.- a) S. El aumento del tiempo dedicado trayecto es un costo que incurrir si acepta el nuevo