Consider each of the following statements, and provide the economic reasoning behind each. “It is difficult to find high-quality apples to buy in Washington State or good fresh oranges in Florida.” Transportation charges make low-quality fruit relatively more expensive to ship to Florida and Washington. Hence, local buyers will have a preference for low quality fruit. “People with significant baby-sitting expenses are more likely to have meals out at expensive (rather than cheap) restaurants than are those without such expenses.” Baby-sitting expenses raise the relative price of meals at lower-quality restaurants (relative to restaurants of the other different quality). “Individuals with a high value of time are more likely to fly the Concorde than those with a lower value of time.” Hint: A Concorde is a passenger jet that flies at faster speeds than a regular commercial airplane. High-wage individuals have a higher value of time and hence a lower relative price of Concorde flights. “Individuals are more likely to search for bargains for expensive items than for cheap ones” Increasing search costs decreases the relative price of expensive items.