For each of the following situations, explain how a change in the stated price is likely to
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Question:
For each of the following situations, explain how a change in the stated "price" is likely to affect your incentives regarding the stated decision.
a. the price of ski-lift tickets; your decision to purchase a ski-lift ticket
b. the hourly wage for your weekend job; the decision to not work and go skiing on the weekend instead
c. the fine for speeding; your decision to speed on the highway
d. the weight of your course grade attached to an assignment; your decision to work hard on that assignment
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