1. Tickets to a rock concert sell for $10. But at that price, the demand is substantially greater than the available number of tickets. Is the value or marginal benefit of an additional ticket greater than, less than, or equal to $10? How might you determine that value?
2. Which of the following combinations of goods are complements and which are substitutes? Can they be either in different circumstances? Discuss.
a. a mathematics class and an economics class
b. tennis balls and a tennis racket
c. steak and lobster
d. a plane trip and a train trip to the same destination e. bacon and eggs