Question 16 Define opportunity cost. Define sunk cost. Give an example of both.Question 17 10 pts Suppose, you just bought a used car. You are now deciding whether to install a new stereo at a cost of $800, a security system at a cost of $400, neither or both. The marginal benet from the stereo is $700 and the marginal benet from the security system is $600. If you are thinking like an economist, will you install the stereo, the security system, both or neither? Briey explain why. Edit View Insert Format Tools Table \fExplain the difference between a decrease in the quantity demanded and a decrease in demand in the market for coffee. Give an example of what might cause each of those changes to occur. When are consumer and producer surplus maximized within a market? What is deadweight loss? Edit View Insert Format Tools Table 12pt V Paragraph B T U A B V T2v V v DV