The decision about whether to work depends on the _____ principle, and the decision about how many hours to work depends on the _____ principle.

Question

Quizplus · Accepted Answer

The decision about whether to work is based on the cost-benefit principle, which involves weighing the benefits of working against the costs (such as time, effort, and opportunity costs). The decision about how many hours to work is based on the marginal principle, where individuals consider the additional benefits of working an extra hour against the additional costs.

The Decision About Whether to Work Depends on the _____