A person will choose to work another hour if the benefit of another hour of work is:
A)greater than the opportunity cost.
B)exactly equal to the opportunity cost.
C)less than the opportunity cost.
D)The supply of labor is unique and does not involve weighing costs and benefits.

Question

Quizplus · Accepted Answer

A rational individual will only choose to work another hour if the benefit gained from that hour of work (in terms of wages or personal satisfaction) exceeds the opportunity cost of that hour (the value of the next best alternative use of the time). Therefore, in order for them to work an extra hour, the benefit must be greater than the opportunity cost.

A Person Will Choose to Work Another Hour If the Benefit