Chapter 2.

Q6

One of the Most useful things one learns in economics is Friedman's Law for Finding Men's Washrooms. This Law states: Men's rooms are adjacent, in one of the three dimensions, to ladies' rooms. Why is this an application of the principle of maximization? minimize costs by having both types of washrooms use the same piping system

Chapter 2. Q8

Are beautiful sunsets a scarce good? Why or why not? Recall that 

Scarcity exists when the price of a good is zero

and people want more than is available. Do you value/want beautiful sunsets? Do you want them more than is available?

Chapter 2. Q10

What economic principle is illustrated in the story of the about their mortality?

Numenoreans, who can live for hundreds of years but are upset
Principle of maximization: all individuals are all motivated by greed

Chapter 3. Q1

At a local gym a fellow walks up to the equipment counter and asks how much to rent a squash racket? The girl behind the counter says $3.50 per hour. To which the reply is I can't aord that. What did the fellow really mean? $3.50 is not the rate at which he wants to make the tradeo between renting the racket and keeping his money.

Chapter 3. Q7

School Boards throughout the province of BC are being required to upgrade their buildings to withstand serious earthquakes. Do increasing the earthquake standards on school buildings necessarily make schools a better place? What are some things that are likely to be sacriced by doing this? Substitution: the money spent on improving the buildings could have been spent on
hiring better teachers buying more computers, library books

This illustrates the idea of no free lunch

Chapter 3. Q8

Anything worth doing is worth doing well. Going to university is worthwhile, but it's probably not worthwhile for every student to get an A+ in all their courses. Donating to charities is worthwhile, but probably not so if one has to donate all her wealth. This is actually a test to distinguish economists from non-economists