The more days you work, the more tedious your job becomes and the more fun you miss out on. So your psychological cost of working goes like this: $70 for your 1st day of work per week, $80 for your 2nd day of work per week, $90 for your 3rd day of work per week, $100 for your 4th day of work per week, $110 for your 5th day of work per week, $120 for your 6th day of work per week, $130 for your 7th day of work per week, If your job pays $105 per day, how many days a week are you willing to work?

You have decided to start a snow-plowing business whereby you will offer to plow the driveways of your neighbours' homes after heavy snowfalls. You are well known by everybody in your neighbourhood, you have a plow for the front of your truck, and you think that your neighbours would rather hire you than someone they do not know. From your research, you know that homeowners are charged an average of $40 to plow their driveways after a heavy snowfall. Interestingly, a few years ago, your research tells you that homeowners were charged an average of $25 to plow their driveways after a heavy snowfall. The average price has gone up, which excites you. Apply your learning about supply and demand to this fact pattern to analyze possible reasons for the increase in price. Consider the five factors that may impact demand and the 6 factors that may impact supply. What questions do you want answered before committing to this business?

Sam promises to pay $200 per month to a local police officer, Brenda, (who is already paid a salary by the city where the neighborhood is located) to "patrol my neighborhood while you are on duty." Brenda does the patrol of the neighborhood for several months and demands payment pursuant to the contract that was put in writing. Who wins and why?

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