Q. 1 You are the mayor of a small town with 2000 residents. The head of your economic development agency recently conducted a survey in which the 2000 residents said that a public concert in the centre of town would be worth $20 to cach of them. Since it costs only $5000 to hold the concert, you organized and held the concert, which everyone in town enjoyed. But when you asked for donations to pay for the concert, you only collected $30 in total. What do you know? a. The survey certainly overstated how much the concert was worth to each resident. b. From the standpoint of total costs and benefits, the cost of the concert certainly exceceded the benefit. c. The concert was an example of the Tragedy of the Commons. d. Residents of the town were probably free riders.

Trade You are thinking about buying a house. You find one you like that costs $300,000. You learn that your bank will give you a mortgage for $240,000 and that you would have to use all of your savings to make the down payment of $60,000. You calculate that the mortgage payments, property taxes, insurance, maintenance, and utilities would total $1,440 per month. Which of the following is true regarding your calculation of the cost of owning the house? OA. It should include your monthly income, since you must know the source of the money when trying to calculate costs. B. It should not include maintenance, since homeowners often use their own time to fix things around the house instead of calling a professional. OC. It should include the opportunity cost of the money used to make the down payment. This money could be earning interest in a bank. OD. It should not include property taxes, since that is money that goes directly to the government and is no longer in the market. Given the…

1. Alana only has $56.47 saved for college. Brainstorm possible reasons why she has only managed to save this amount. 2. What do you think Alana’s goals should be?What are a few ways that Alana can get a better understanding of her spending patterns?

include graphs/diagrams accordingly