ECN 340 Lecture Notes - Lecture 5: Only Child, Marginal Cost, Demand Curve
10 Nov 2015
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Parental notification: additional constraint to have unprotected sex because of consequences of telling the parent that they are pregnant. If you put people in unnatural settings (you can lie) you won"t get the same result as in real life. John list thinks that experiments are not valid. They drank the tonic water because there got a bigger serving. You make do the best you can because the rats want to quench their thirst. If the amount (the cost) of tonic water goes down (price goes up) the rats will still drink more tonic water because it is still less expensive then the root beer . The rats will keep drinking the tonic water as long as the servings are still larger than those of the root beer. Make do with the situation: do the best you can in the given situation.
