Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN: 9781305971509
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 1, Problem 5PA
To determine
Applying the concept: Rational people think at the margin.
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Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value both when they are bought and
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Think about your decision to buy the textbook for this course. You paid $225 for the book, but you would have been willing to pay
$500 to use the book for the semester. Suppose that at the end of the semester you could keep your textbook or sell it back to the
bookstore. Once you have completed the course, the book is worth only $50 to you. The bookstore will pay you 50% of the original
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Your Aunt Debby has come to you offering to pay you if you make large signs to advertise her business. The materials for each sign cost $20, and you have to spend your own time painting them. The time it would take you to make the first sign is worth $20 to you. The time it would take to make the second sign is worth $30. The time it would take to make the third sign is worth $40.
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Chapter 1 Solutions
Principles of Macroeconomics (MindTap Course List)
Ch. 1.1 - Prob. 1QQCh. 1.2 - Prob. 2QQCh. 1.3 - Prob. 3QQCh. 1 - Prob. 1CQQCh. 1 - Prob. 2CQQCh. 1 - Prob. 3CQQCh. 1 - Prob. 4CQQCh. 1 - Prob. 5CQQCh. 1 - Prob. 6CQQCh. 1 - Prob. 1QR
Ch. 1 - Prob. 2QRCh. 1 - Prob. 3QRCh. 1 - Prob. 4QRCh. 1 - Prob. 5QRCh. 1 - Prob. 6QRCh. 1 - Prob. 7QRCh. 1 - Prob. 8QRCh. 1 - Prob. 9QRCh. 1 - Prob. 10QRCh. 1 - Prob. 1PACh. 1 - Prob. 2PACh. 1 - Prob. 3PACh. 1 - Prob. 4PACh. 1 - Prob. 5PACh. 1 - Prob. 6PACh. 1 - Prob. 7PACh. 1 - Prob. 8PACh. 1 - Prob. 9PACh. 1 - Prob. 10PACh. 1 - Prob. 11PA
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