Reference no: EM132388833

Question: 1. Choose one of the discussion questions below to focus on for your discussion contribution.

2. Once you have completed your initial post (2-3 paragraphs), read and respond to the posts of at least 2 of your peers. You don't have to respond to the same question that your initial post was on.

3. Your initial post and your peer responses should be substantial and original. Clearly cite any outside sources incorporated in to your original thoughts using MLA. For questions, reference the MLA guidelines.

Discussion questions:

1. What is your opportunity cost for attending college? Explain.

2. The state government of Georgia pledges to build a new Georgia welcome center for $50 million. Officials believe the welcome center will be worth $60 million in total economic value. After spending $30 million on the project, the state hits a snag. Now it appears that the welcome center will cost an additional $80 million. Should the state of Georgia finish the project? Explain, using the concepts learned in this chapter.

3. Suppose that Tiger Woods is capable of changing the oil in his car. In fact, no one in town is better! Should Tiger change the oil in his car or hire someone?

4. Scott is running a taco stand in a local market. He is working very hard, wasting no time or resources, in order to make as many chicken tacos as possible. However, his would-be customers would prefer that he make shrimp tacos. Is Scott efficient?

5. You hear a politician on the news state, "If politicians really cared about Americans, they should increase tax rates on the wealthy." Is this a positive or normative statement?