21.Would there be a need for a rationing device if scarcity did not exist? Explain your answer.
22.Jackie’s alarm clock buzzes. She reaches over to the small table next to her bed and turns it off. As she pulls the covers back up, Jackie thinks about her 8:30 American history class. Should she go to the class today or sleep a little longer? She worked late last night and really hasn’t had enough sleep. Besides, she’s fairly sure her professor will be discussing a subject she already knows well. Maybe it would be okay to miss class today. Is Jackie more likely to miss some classes than she is to miss other classes? What determines which classes Jackie will attend andwhich classes she won’t?
23.If you found $10 bills on the sidewalk regularly, we might conclude that individuals don’t try to maximize net benefits. Do you agree or disagree with this statement? Explain your answer.
24.The person who smokes cigarettes cannot possibly be thinking in terms of costs and benefits because it has been proven that cigarette smoking increases one’s chances of getting lung cancer. Do you agree or disagree with the part of the statement that reads “the person who smokes cigarettes cannot possibly be thinking in terms of costs and benefits”? Explain your answer.