Abby received requests from three families to babysit a toddler for four hours on friday night. she can only babysit for one of the three families. the fleming family offered her $20, the gilbert family offered her $30, and the lewis family offered her $40. if abby chooses to babysit for the lewis family, her opportunity cost of this decision is: choose the correct answer from the following choices, and then select the submit answer button. answer choices incorrect: $40. $40. $30. $20. $50.

Suppose that two firms produce differentiated products and compete in prices. as in class, the two firms are located at two ends of a line one mile apart. consumers are evenly distributed along the line. the firms have identical marginal cost, $60. firm b produces a product with value $110 to consumers.firm a (located at 0 on the unit line) produces a higher quality product with value $120 to consumers. the cost of travel are directly related to the distance a consumer travels to purchase a good. if a consumerhas to travel a mile to purchase a good, the incur a cost of $20. if they have to travel x fraction of a mile, they incur a cost of $20x. (a) write down the expressions for how much a consumer at location d would value the products sold by firms a and b, if they set prices p_{a} and p_{b} ? (b) based on your expressions in (a), how much will be demanded from each firm if prices p_{a} and p_{b} are set? (c) what are the nash equilibrium prices?