Question 2: A. You won a free ticket to see the movie \"Star Wars: The Last Jedi\" in the Festival Grand Cinema (assume the ticket has no resale value). Another movie, \"3 Idiots\" is also being shown the same evening, and this represents your next-best alternative activity. Tickets to the \"3 Idiots\" movie cost $120, and based on the positive reviews you have heard about this movie, you would be willing to pay up to $225 to see it. Assume that there are no additional costs of seeing either movie. Based on the information presented here, what is the opportunity cost of seeing \"Star Wars: The Last Jedi\"? Explain your answer. (6 points) . Would employers be willing to pay higher wages to university graduates, compared to less educated workers, even if university education does not make workers more productive? Explain your answer. (6 points) When Apple introduced the iPhone to the market for the rst time in 2007, they priced it at a very high price of US$600. Since then, although many competitors have entered the market, the high price of iPhone's has stuck with consumers. Which psychological bias of consumers' may Apple have exploited to maintain a high price of iPhones'? Dene and explain this bias with another example. (2 + 6 = 8 points)