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The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695 Exercise 4
In the economic way of thinking, which is more efficient?
(a) A remarkably clean and beautiful-sounding 1956 Fender Stratocaster guitar or a brand new but tinny-sounding 2014 El Cheapo electric guitar? (Would it make any difference if the Fender sells for $12,000 and the El Cheapo sells for $175?)
(b) Booking a concert at Madison Square Garden or booking a gig at the local bar? (Would it make any difference if the entertainer were Eric Clapton or your own garage band?)
(c) Purchasing bananas from the local grocer or purchasing bananas directly from the growers themselves?
(d) An eight-cylinder SUV or a solar-battery-powered car?
(a) A remarkably clean and beautiful-sounding 1956 Fender Stratocaster guitar or a brand new but tinny-sounding 2014 El Cheapo electric guitar? (Would it make any difference if the Fender sells for $12,000 and the El Cheapo sells for $175?)
(b) Booking a concert at Madison Square Garden or booking a gig at the local bar? (Would it make any difference if the entertainer were Eric Clapton or your own garage band?)
(c) Purchasing bananas from the local grocer or purchasing bananas directly from the growers themselves?
(d) An eight-cylinder SUV or a solar-battery-powered car?
Explanation
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Verified
Efficiency is the state of performing ac...
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
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