The marginal cost of a vacation in Jamaica is $3,000. The marginal benefit to Jordan of a vacation in Jamaica is $3,500.
A) According to the rule of rational choice, Jordan should choose not to vacation in Jamaica at this time.
B) According to the rule of rational choice, Jordan will experience a net gain of $500 if he vacations in Jamaica.
C) According to the rule of rational choice, Jordan will experience a net gain of $3,500 if he vacations in Jamaica.
D) According to the rule of rational choice, Jordan will experience a net gain of $3,000 if he vacations in Jamaica.
Correct Answer:
Verified
Q1: Scarcity
A)Can be eradicated with sufficient economic growth.
B)Could
Q2: The opportunity cost of attending a college
Q4: Positive incentives:
A)increase benefits or reduce costs.
B)decrease the
Q5: The following table shows the marginal benefit
Q6: Select the best concern of the following
Q7: Select the best concern of the following
Q8: Select the best concern of the following
Q9: Select the best concern of the following
Q10: Select the best concern of the following
Q11: Select the best concern of the following
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents