Ashley and Devki wanted to go shopping for a new outfit. Ashley knew she should stay home and study for her Macroeconomics exam but felt she could spend some time doing both. In the past, she had always studied about 4 hours for her exams but today she only studied for 2 hours. Her normal grade of an A fell to a B. What was the opportunity cost of going shopping?

If the guide wprds on the page are "crochet " and "crossbones", which words would not be on the page. criticize, crocodile,croquet,crouch,crocus.

Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?

Evaluate a real situation between two economic actors; it could be any scenario: two competing businesses, two countries in negotiations, two kids trading baseball cards, you and another person involved in an exchange or anything else. use game theory to analyze the situation and the outcome (or potential outcome). be sure to explain the incentives, benefits and risks each face.