Lunch in Jamie's dorm is an all-you-can-eat buffet,served from 11 a.m.until 1 p.m.By noon,the buffet is picked over,and by 12:30,there are very few popular items left.The garbage bins,though,are full of food.
Refer to the information given above.If the cafeteria changed its policy so that students had to pay for each item chosen,students would:
A)continue to make the same selections as before,but waste less.
B)select only the most expensive items in the buffet.
C)experience shortages earlier in the day.
D)make food selections so that the marginal benefit was no less than the price of the item.

Question

Quizplus · Accepted Answer

Students face private incentives to choose food so long as the marginal benefit is greater than or equal to the marginal cost.If items are priced,the marginal cost is positive.

Lunch in Jamie's Dorm Is an All-You-Can-Eat Buffet,served from 11