1.1. Suppose college students are given two options. With option A, the price a student pays for a class is always the equilibrium price. For example, if the equilibrium price to take Economics 101 is $600 at 10 A.M. and is $400 at 4 P.M., then students pay more for the 10 A.M. class than they do for the 4 P.M. class. With option B, the price a student pays for a class is the same regardless of the time the class is taken. When given the choice between options A and B, many students would say they prefer option B to option A.

Is this the case for you? If so, why would this be your choice?