Asked by
Penny For Your Thoughts
on Oct 27, 2024
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You are planning to study eight hours this week for your economics final and are considering studying a ninth hour.You should:
A) compare the benefits of one more hour of study with the cost of one less hour of sleep.
B) compare the benefits of one more hour of study with the cost of one less hour of studying calculus.
C) compare the benefits of one more hour of study with the cost of one less hour of work at your part-time job.
D) make your decision based on the cost of the next best alternative use of your time compared to the benefit of one more hour of study.
Marginal Analysis
Analysis of the added value an activity provides compared to its additional expenses.
Economics Final
An examination or assessment concluding a course in economics, testing students' understanding of economic theories and principles.
Part-Time Job
Employment with fewer hours per week than a full-time position, typically offering more flexibility.
- Grasp the principle of marginal analysis and its application in everyday choices.
- Fathom the significance of making marginal decisions in allocating time and resources.
Verified Answer
SD
Learning Objectives
- Grasp the principle of marginal analysis and its application in everyday choices.
- Fathom the significance of making marginal decisions in allocating time and resources.