Rob and Barbara take a plane trip from Green Bay to Dallas t…

Rob and Barbara take a plane trip from Green Bay to Dallas to see the Packers play against Cowboys for a recent playoff game. The probability that the plane will crash is 0.0006.  Barbara appears very anxious before the flight.  She says she is really scared that the plane is going to crash and is obviously nervous.  Rob is quite confident and comfortable about his trip (and about the outcome of the game). Which of the following risks is different for Rob than it is for Barbara?

With grapes on the X axis and apples on the Y-axis, draw a P…

With grapes on the X axis and apples on the Y-axis, draw a PPF that exhibits increasing opportunity costs.  Label this line as PPF1.  In the same diagram, draw a PPF that exhibits constant opportunity costs.  Label this line as PPF2.  Make sure you also label the axes.   Submit your answer by clicking on the tab above that uploads a document or photo.  This NEEDS to be HAND DRAWN.  Computer drawn answers unless previously cleared with me, will get half credit.

Draw a market (i.e., supply and demand) diagram for pdiamond…

Draw a market (i.e., supply and demand) diagram for pdiamonds.  Make sure you label all axes and lines.  Label the equilibrium as point A.  In the same diagram, illustrate how an increase in income (diamonds are inferior goods) will affect the market supply, demand or both.  Illustrate how the equilibrium price and quantity will change.  Label the new equilibrium as point B.   Submit your answer by clicking on the tab above that uploads a document or photo.  This NEEDS to be HAND DRAWN.  Computer drawn answers unless previously cleared with me, will get half credit.