1.For which of the following decisions would marginal analysis be relevant? A) s
ID: 1186985 • Letter: 1
Question
1.For which of the following decisions would marginal analysis be relevant?
A) spending $1,000 on a summer vacation or on painting your house
B) the same amount
C) More
D) None
2. For which of the following decisions would marginal analysis be relevant?
A)Spending $1000 on a summer vacation or on painting your house
B)Deciding how much to spend on a summer vacation
C)Buying a new car or a second-hand car
D) Eating dinner at home or going out to a restaurant for dinner
3.
Figure: Marginal Benefits and Marginal Costs) As shown, more time spent studying economics adds points to economics scores but subtracts points from accounting scores. The marginal benefit of studying economics when the student is at 2 hours is ________ points and the marginal cost is ________ points.
A)40; 0
B)30; 10
C)20; 20
D)10; 30
(Figure: Short-Run Costs) A is the ________ cost curve.
A)average total
B)average variable
C)marginal
D)total
1.For which of the following decisions would marginal analysis be relevant?
A) spending $1,000 on a summer vacation or on painting your house
B) the same amount
C) More
D) None
2. For which of the following decisions would marginal analysis be relevant?
A)Spending $1000 on a summer vacation or on painting your house
B)Deciding how much to spend on a summer vacation
C)Buying a new car or a second-hand car
D) Eating dinner at home or going out to a restaurant for dinner
3.
Figure: Marginal Benefits and Marginal Costs) As shown, more time spent studying economics adds points to economics scores but subtracts points from accounting scores. The marginal benefit of studying economics when the student is at 2 hours is ________ points and the marginal cost is ________ points.
A)40; 0
B)30; 10
C)20; 20
D)10; 30
(Figure: Short-Run Costs) A is the ________ cost curve.
A)average total
B)average variable
C)marginal
D)total
Explanation / Answer
1) A) spending $1,000 on a summer vacation or on painting your house
2) C)Buying a new car or a second-hand car
3) B)30; 10
4) B)average variable
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