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Marla will make $10 by tutoring for an additional hour,but she will lose an hour of studying for her economics test.Marla decides to study,rather than tutor.Marla's choice indicates that she:
A) values an additional hour of studying more than the $10 she would earn tutoring.
B) values an hour of studying less than the $10 she would earn tutoring.
C) does not understand that there is no benefit from studying.
D) doesn't need the money.
Marginal Analysis
An examination of the benefits and costs of an additional unit of production or activity to make better decisions.
Tutoring
The act of providing individualized instruction or assistance to a student or learner in a specific subject area to improve their understanding or performance.
Economics Test
An examination or assessment aimed at evaluating understanding or knowledge in the subject of economics.
- Acquire knowledge about the notion of opportunity cost and its relevance in diverse scenarios of decision-making.
- Gain insight into the significance of opportunity cost when assessing alternative choices.
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Learning Objectives
- Acquire knowledge about the notion of opportunity cost and its relevance in diverse scenarios of decision-making.
- Gain insight into the significance of opportunity cost when assessing alternative choices.
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