The marginal cost of a vacation in Jamaica is $3,500.The marginal benefit to Colby of a vacation in Jamaica is $3,000.
A) According to the rule of rational choice, Colby should choose not to vacation in Jamaica at this time.
B) According to the rule of rational choice, Colby will experience a net gain of $500 if he vacations in Jamaica.
C) According to the rule of rational choice, Colby should borrow $500 and vacation in Jamaica.
D) According to the rule of rational choice, Colby will experience a net gain of $3,000 if he vacations in Jamaica.
Correct Answer:
Verified
Q101: Pollution damages the environment we live in.
Q108: You lose $20 from your wallet and
Q109: Henry must choose between going to his
Q110: Positive incentives do not:
A)increase benefits.
B)result in an
Q111: Economists believe that in regards to criminal
Q112: The marginal cost of a vacation in
Q114: Several political leaders have proposed that parents
Q116: Jared declines to purchase a new bicycle
Q117: The following table shows the marginal benefit
Q118: Gallons of milk at a local grocery
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents