The decision to enrol in a PhD program is a rational one for a university student if the
A)marginal cost exceeds the marginal benefit of gaining a PhD.
B)marginal benefit of gaining a PhD exceeds the marginal cost.
C)student carefully considered the social benefits of this decision.
D)cost is not too great.
E)opportunity cost of gaining a PhD equals zero.

Question

Quizplus · Accepted Answer

The rational decision to enrol in a PhD program is when the marginal benefit of gaining a PhD is greater than the marginal cost. This means that the benefits of having a PhD degree (such as higher income, more job opportunities, etc.) outweigh the costs of pursuing the PhD (such as tuition fees, time commitment, etc.). Thus, the student should opt for the PhD program if the marginal benefit exceeds the marginal cost.

The Decision to Enrol in a PhD Program Is a Rational