A one-day ticket to Sea World costs $37,but a two-day pass costs $42.What is the average cost per day for a one-day pass? For a two-day pass? What is the marginal cost of a second day at Sea World? Why might Sea World charge such a price for a second day's entrance to the park?
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Q137: Exhibit 10-6 Q138: A budget line shows: Q139: A consumer's budget line will shift to Q140: The price-consumption curve: Q141: A consumer equilibrium is depicted using indifference Q143: Explain the concept of utility. Q144: What do economists mean by "consumer equilibrium?" Q145: Use the law of diminishing marginal utility Q146: Use the concept of diminishing marginal utility Q147: In the diagram,a consumer equilibrium is depicted
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