Question
Suppose there are two identical gold bars that you own. The only difference between them is how you acquired them. One bar was won as
- Suppose there are two identical gold bars that you own. The only difference between them is how you acquired them. One bar was won as a prize, the other you purchased.
- What is the difference in the cost of retaining ownership in the two bars? Explain. (hint: recall the distinction between accounting and opportunity costs).
- Will there be any predicted difference in the use of the bars? Explain.
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
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