1.1. a. Two girls are sharing a cold chocolate milk, as in the picture below. How long...

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1.1.

a. Two girls are sharing a cold chocolate milk, as in the picture below. How long do you think it will take them to drink all the milk?

How long would it take if each girl had her own glass and half the milk? Can you see a problem when the girls drink from a common glass?

b. What is going on in this picture of the East Texas oil field in 191 9? Can you see the problem?

c. Why did we put these two questions together? (Hint: A peech from the movie There Will Be Blood gets at the same question-it's based on a 1924 speech by U.S. Senator Albert Fall ofNew Mexico.)

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Modern Principles Microeconomics

ISBN: 9781429239998

2nd Edition

Authors: Tyler Cowen, Alex Tabarrok

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Question Posted: Nov 16, 2024 07:00 AM

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1.1. a. Two girls are sharing a cold chocolate milk, as in the picture below. How long...

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Modern Principles Microeconomics

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