You should decide to go to a movie:
A. if the marginal cost of the movie exceeds its marginal benefit.
B. if the marginal benefit of the movie exceeds its marginal cost.
C. if your income will allow you to buy a ticket.
D. because movies are enjoyable.
Answer: B
You might also like to view...
Which of the following is a characteristic of "public goods"?
What will be an ideal response?
In an experiment that employed the dictator game, economists at Cornell University gave student "allocators" the option of dividing $20 in only two ways (a) $18 for themselves and $2 to another student, or (b) $10 for themselves and $10 to anoth
student. What was one result from this experiment? A) Most allocators chose to give themselves $18 and $2 to the other students. B) A majority of the female allocators chose option (a); a majority of the male allocators chose option (b). C) Most of the allocators apparently valued acting fairly. D) Most of the students who were not allocators did not like having someone else make decisions for them.
To be considered employed, a person must have a full-time job
a. True b. False Indicate whether the statement is true or false
To correct a market failure, society typically relies on
a. the market to correct itself b. individual producers' cost-minimization procedures c. the industry policing itself d. the government to either tax, subsidize, or control output directly e. price to reach equilibrium