On June 13, 2011, Writer Sebastian Anthony at Extreme Tech

question 98

Multiple Choice

On June 13, 2011, writer Sebastian Anthony at Extreme Tech wrote, "During the two days that the Les Paul [Google] doodle was online, those 740 million visitors spent 26 seconds more on the Google home page than normal. That's a total of almost 10.7 million man-hours spent playing with the Les Paul Google Doodle. Assuming the average Google user earns $25/hour, the doodle cost companies around the world $268 million in lost productivity." Mr. Anthony's mistake is overestimating opportunity costs. He is doing this by assuming that:

• A) labor has no incentive to work.
• B) all those man-hours would have been spent working if not for the doodle.
• C) all the Google visitors do not sleep.
• D) that labor is not making a marginal decision.

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Definitions:

Periodic Tenancy

A lease that automatically renews at the end of each rent payment period until notice to terminate is given.

Tenancy at Will

A lease agreement that can be terminated at any time by either the landlord or the tenant without any prior notice.

Notice to Quit

A formal declaration often used in real estate to notify a tenant that they must leave the property by a specified date.

Leasehold Interest

The interest that a tenant possesses in the property they lease, including rights to use and occupy the property.