3) Prior to 1982, ATamp;T kept local phone rates low by subsidizing them from long-distance profits. Was such cross subsidization in the public
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Which statement best summarizes Friedman’s views on the role of monetary A) Monetary policy should best be conducted by 1) controlling the price
September 15, 2020

Economic Decisions

In Chapter 1 of the course text, you read about three important decision pitfalls in economic decisions. One of these is the pitfall of ignoring implicit costs.

Assume that you are considering a 7-night vacation to Fort Walton Beach, Florida, in March. You estimate the total cost of the trip to Fort Walton Beach at $1,250, including discounted airfare. However, a resort at Myrtle Beach, South Carolina, is offering 3 free nights with a 7-night stay. The advertised value of this special 3-night free offer is $397. In addition, you must use a $200 flight coupon that you received from an airline last December to compensate you for a 6-hour flight delay. After applying the $200 flight coupon and the $397 for the 3 free nights, the total out-of-pocket cost for the trip to Myrtle Beach is $1,100.

Submit by Day 7 a 300- to 700-word paper which addresses the following:

Based on the total explicit and implicit costs, should you take the trip to Fort Walton Beach or to Myrtle Beach? Explain your answer and support it with total cost estimates (explicit plus implicit) for each trip option.

Assignments must bein APA style and format. Information on APA style is available at theWalden Writing Center.

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