You are planning to study 8 hours this week for your economics final and are considering studying a ninth hour.You should:
A) compare the benefits of one more hour of study with the cost of one less hour of sleep.
B) compare the benefits of one more hour of study with the cost of one less hour of studying calculus.
C) compare the benefits of one more hour of study with the cost of one less hour of work at your part-time job.
D) make your decision based on the cost of the next best alternative use of your time compared to the benefit of one more hour of study.

Question

Quizplus · Accepted Answer

The best choice is to make the decision based on the cost of the next best alternative use of your time compared to the benefit of one more hour of study. This means considering the trade-off between studying for an additional hour and doing something else such as sleeping, studying calculus, or working at your part-time job. By comparing the benefits and costs of each alternative, you can make an informed decision about whether studying for another hour is worth the opportunity cost of not doing something else.

You Are Planning to Study 8 Hours This Week for Your