Assume that an individual has to decide between a 2-day vacation and a 3-day vacation to the same place.If he uses optimization using marginal analysis,he will ________.
A) only think about the net benefits of the extra day
B) compare the total net benefits of both alternatives
C) choose the 3-day vacation only if the costs incurred on the third day exceed the benefits he receives
D) spend more time to make a decision than he would had he used optimization using total value

Question

Quizplus · Accepted Answer

Optimization using marginal analysis involves comparing the additional benefits and costs of one more unit of something. In this case, the individual will consider the net benefits (benefits minus costs) of the extra day to decide whether the 3-day vacation is worth it compared to the 2-day vacation.

Assume That an Individual Has to Decide Between a 2-Day