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1. You go out for dinner with a group of 'iends. When ordering, you assumed the group would split the total bill evenly. At the

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1. You go out for dinner with a group of 'iends. When ordering, you assumed the group would split the total bill evenly. At the end of the meal, you learn that each person must pay for what she ordered. As a result of this change: a) you spent too little on your own meal. b) you consumed where your marginal benet exceeded your marginal cost. c) you consumed where your marginal benet was less than your marginal cost. d) the total bill for the dinner was too low. e) you and your friends spent the appropriate amount on dinner. 2. You are given a ticket to a concert for 'ee, which you could sell for $100. You value the concert at $200. Your next best alternative is to attend a hockey game, which costs $100 and that you value at $125. If you choose to attend the concert, your opportunity cost is: a) $0. b) $25. c) $100. d) $125. e) $200

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