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ECON 208 (210)
Lecture

# Conference 1.doc

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School
Department
Economics (Arts)
Course
ECON 208
Professor
Wendy Dickinson
Semester
Summer

Description
Econ208: Conference Questions 1 1 University A's cafeteria has an `all-you-can-eat' option under which students pay a fixed charge of \$500 per semester. University B charges \$500 for a book of tickets that gives the students 250 kg. of food per semester. They pay extra to eat any more than this, and get a refund if they eat less. Where will average food consumption be higher? Why? (Assume all food is equally good (or bad!) within and between universities and all students have the same `appetites') 2. A group has chartered a bus to visit New York City. The driver costs \$100, the bus costs \$500 plus \$75 for tolls. If the group cancels the trip it must still pay the \$100 driver's fee and a non-refundable deposit of \$50. At \$18 per ticket, how many people must buy tickets so that the trip need not be cancelled? 3. Chapter 1, Exercise 9 (Text page 22) 4.
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