In order to determine whether to major in economics,a rational individual compares the ________ of the decision.
A)self-interest and social interest
B)normative benefits and positive costs
C)positive benefits and normative costs
D)marginal benefit and marginal cost
E)opportunity cost and the sunk cost

Question

Quizplus · Accepted Answer

To make a rational decision about majoring in economics, one would compare the marginal benefit (the additional benefit of studying economics) to the marginal cost (the additional cost of studying economics). This allows the individual to weigh the potential benefits against the potential costs and make an informed decision.

In Order to Determine Whether to Major in Economics,a Rational