According to the Cost-Benefit Principle, you should go see the latest Star Wars movie with your friends this week-end if()
A. you can afford to go to the movies
B. the extra benefits of seeing the movie are greater than the extra costs of seeing the movie
C. you really like Star Wars
D. the average benefit you get from going to the movies is greater than the average cost of a ticket
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Janie must choose to either mow the lawn or wash clothes. If she mows the lawn, she will earn $30, and if she washes clothes, she will earn $45. She dislikes both tasks equally and they both take the
A. mow the lawn; bigger
B. mow the law; smaller
C. wash clothes; smaller
D. wash clothes; bigger
The average benefit of n units of an activity is the()
A. total benefit of n units divided by n
B. n times the total benefit of n units
C. extra benefit from carrying out one additional unit of the activity
D. n divided by the total benefit of n units
You want to buy a TV that regularly costs $250. You can either buy the TV from a nearby store or from a store that’s downtown. Relative to going to the nearby store, driving downtown involves addition
A. No, because you will only save 10%, which is less than 15%
B. No, because you will save more than $20
C. Yes, because you will save more than $20
D. Yes, because you will save 10%, which is better than nothing
Dividing the total cost of n units of an activity by n reveals the()
A. units per cost
B. average cost
C. average benefit
D. marginal cost