Think of a situation in your own life where you need to make a choice. What is the scarcity, trade-off, and opportunity cost? Could you make a decision that isn’t all-or-nothing, based on a marginal benefit and marginal cost? After your analysis, what do you think is the best choice. write the answer in a written response

Because of the housing bubble, many houses are now selling for much less than their selling price just two to three years ago. there is evidence that homeowners with virtually identical houses tend to ask for more if they paid more for the house. what fallacy are they making?

Around the third week of a college class, a professor decides she’s had enough, is tired of dealing with bureaucracies, and wants out. so one day, instead of coming to class, she flies to tahiti and sells souvenirs on the beach. if this happened, the college would simply assign a substitute to finish the course. what does this tell you about the nature of the authority wielded by a professor?

Jesse james, a 20-year old, was arrested for killing a police officer. as a newly elected prosecutor, you are responsible for prosecuting mr. james. you announce your decision not to seek the death penalty in this case, but under your state’s law, the offense charged is considered special circumstances, which would qualify as a death penalty case. your decision does not sit well with the law enforcement community. what are the potential hearings that might be involved in this case? be sure to describe them from the time of arrest through appeal.