Suppose That Bill Wants to Dine at a Fancy Restaurant

question 166

Multiple Choice

Suppose that Bill wants to dine at a fancy restaurant, but the only available table is in the smoking section. Bill dislikes the smell of cigarette smoke. He notices that only one person, Peter, is smoking in the smoking section. Bill values the absence of smoke at $15. Peter values the ability to smoke in the restaurant at $10. In order for Bill to pay Peter not to smoke, he will need to tip the waiter $10 to facilitate the transaction. Which of the following represents an efficient solution?

• A)Peter continues to smoke because the cost to Bill to pay him not to smoke is between $20 and $25, which exceeds the benefit to him of no smoking ($15).
• B)Bill offers Peter between $10 and $15 not to smoke, and he pays the waiter $10. Peter accepts, and both parties are better off.
• C)Bill offers Peter between $10 and $15 not to smoke, and he pays the waiter $10. Peter declines because he has a right to smoke in the smoking section.
• D)Bill offers Peter $5 not to smoke, and he pays the waiter $10. Peter accepts, and both parties are better off.

Evaluate the social policies and practices designed to address racial and ethnic discrimination and promote diversity.

Understand the concept and examples of institutional discrimination.

Distinguish between racism, prejudice, and discrimination.

Recognize the systemic nature of racism and its impact on societal structures.

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Definitions:

Mediastinum

The central compartment of the thoracic cavity surrounded by loose connective tissue, containing the heart, esophagus, trachea, major blood vessels, and other structures.

Pleural Fluid

The thin layer of fluid between the two pleurae (the membranes surrounding the lungs and lining the chest cavity) that lubricates and facilitates lung movement during breathing.

Inspiratory Muscles

Muscles involved in inhalation, primarily the diaphragm and intercostal muscles, which expand the thoracic cavity.

Pleural Pressure

The pressure within the pleural cavity, which can influence lung expansion and contraction.