Jacques has plans to go to a play and already has a $50 nonrefundable, nonexchangeable, and nontransferable ticket. now kyoko, whom jacques has wanted to date for a long time, asks him to a concert. jacques would prefer to go to the concert with kyoko and forgo the play, but he doesn't want to waste the $50 he spent on the play ticket. from the perspective of an economist, if jacques decides to go to the concert with kyoko, what has he just done

Abigail spent $100 on a new edition of the personal finance textbook rather than $75 for a used copy. the additional cost for the new copy is called the

"in my opinion, we ought to stop making our own drums and accept that outside supplier's offer," said wim niewindt, managing director of antilles refining, n.v., of aruba. "at a price of $21 per drum, we would be paying $4.70 less than it costs us to manufacture the drums in our own plant. since we use 70,000 drums a year, that would be an annual cost savings of $329,000." antilles refining's current cost to manufacture one drum is given below (based on 70,000 drums per year):

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product