Jenna decides to see a movie that costs $7 for the ticket and has an opportunity cost of $20.After the movie,she says to one of her friends that the movie was not worth it.Apparently,
A) Jenna failed to apply the cost-benefit model to her decision.
B) Jenna was not rational.
C) the economic model of cost-benefit analysis failed.
D) Jenna overestimated the benefits of the movie.
E) this proves the limitations of economic models,specifically the cost-benefit principle.
Correct Answer:
Verified
Q48: The existence of the cost-benefit principle stems
Q49: The Web site for this textbook can
Q52: The fundamental problem that is studied in
Q55: The opportunity cost of an activity is
Q58: To determine the best course of action,one
Q58: Deciding to pursue an activity as long
Q59: In applying the cost-benefit principle,one should calculate
Q60: Amy is thinking about going to the
Q61: The opportunity cost of any activity is
Q66: Tony notes that an electronics store is
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