State the economic decision rule and apply it to the following situations:
(a) A personal computer costs about 2 cent per hour to operate. Every time it is turned on and off, there is a .00005 probability that the computer will fail, costing $700 to repair. Is it worthwhile to turn off your computer?
(b) Should you try out for the soccer or the baseball team?
(c) The date to withdraw from a course and get the $300 refund has passed. With 30 more classes left in the semester, should you drop the course?
(d) Your employer has offered you a 20% raise. Do you work more hours?

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The Answer of State the economic decision rule and apply it to the following situations:
(a) A personal computer costs about 2 cent per hour to operate. Every time it is turned on and off, there is a .00005 probability that the computer will fail, costing $700 to repair. Is it worthwhile to turn off your computer?
(b) Should you try out for the soccer or the baseball team?
(c) The date to withdraw from a course and get the $300 refund has passed. With 30 more classes left in the semester, should you drop the course?
(d) Your employer has offered you a 20% raise. Do you work more hours?

State the Economic Decision Rule and Apply It to the Following