State the economic decision rule and apply it to the following situations:
(a)A personal computer costs about 2 cent per hour to operate.Every time it is turned on and off,there is a .00005 probability that the computer will fail,costing $700 to repair.Is it worthwhile to turn off your computer?
(b)Should you try out for the soccer or the baseball team?
(c)The date to withdraw from a course and get the $300 refund has passed.With 30 more classes left in the semester,should you drop the course?
(d)Your employer has offered you a 20% raise.Do you work more hours?
The economic decision rule is: If the marginal benefits of doing something exceed the marginal costs,do it; If the marginal costs of doing something exceed the marginal benefits,don't do it.

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The Answer of State the economic decision rule and apply it to the following situations:
(a)A personal computer costs about 2 cent per hour to operate.Every time it is turned on and off,there is a .00005 probability that the computer will fail,costing $700 to repair.Is it worthwhile to turn off your computer?
(b)Should you try out for the soccer or the baseball team?
(c)The date to withdraw from a course and get the $300 refund has passed.With 30 more classes left in the semester,should you drop the course?
(d)Your employer has offered you a 20% raise.Do you work more hours?
The economic decision rule is: If the marginal benefits of doing something exceed the marginal costs,do it; If the marginal costs of doing something exceed the marginal benefits,don't do it.

State the Economic Decision Rule and Apply It to the Following