Tara Notices That Studying for One Hour After Class Increases

question 62

Multiple Choice

Tara notices that studying for one hour after class increases her economics grade by 11 points.The second hour yields a 7-point gain,the third hour yields a 4-point gain,and the fourth hour yields only a 1-point gain.This means that the marginal _____ of studying decreases with study hours.

• A)cost
• B)benefit
• C)opportunity cost
• D)time

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Definitions:

Mark-up

The sum added onto the goods' cost price to account for overhead expenses and profit, which establishes the selling price.

Clearance Sale

A sale event where products are offered at significantly reduced prices to clear out inventory.

Sale Price

The final amount at which a product or service is sold to the consumer.

Markdown

A reduction from the original or list price of goods or services to stimulate sales.