Bob and Mary each have a Ph.D.in economics.Bob has a job in private industry at which he earns $90, 000 a year.Mary earns half that much as a college professor.Which of the following could not explain Mary's career choice?

Question

Quizplus · Accepted Answer

Diminishing marginal utility refers to the idea that as a person receives more of a good or service, the additional satisfaction or benefit they receive from each additional unit decreases. This concept is generally applied to consumption choices, not career choices. Therefore, it cannot explain Mary's career choice. The other choices could all be potential reasons for Mary's decision to become a college professor.

Bob and Mary Each Have a Ph