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Question 1
a. If Bert a rational person voluntarily purchases a chocolate bar for $2 and consumes it, how much benefit does the chocolate bar provide Bert? What is Bert's net-benefit of purchasing and consuming the chocolate bar?
b. Bert's friend, Carla is also rational but chooses not to purchase the chocolate bar for $2. If Carla was given a chocolate bar for free and eats it how much is Carla's benefit from the chocolate bar? What is Carla's net-benefit of consuming the chocolate bar?
Question 2
If it costs you $20 to travel to beach and you go to the beach 5 times a year, then the benefit of the beach to you per year is at least how much?
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