After Three Years at an Expensive College, Pierre Realizes That

question 75

Multiple Choice

After three years at an expensive college, Pierre realizes that he doesn't want to finish school but really wants to be a chef. When Pierre suggests that he leave college for culinary school, his parents insist that he stay for one more year to get his degree. Which of the following is TRUE?

• A) Pierre's parents are correct: if he leaves college, it is as though he has wasted three years of tuition.
• B) Pierre's parents are wrong: the marginal benefit to Pierre of another year of college is less than the marginal cost of college.
• C) Pierre's parents are wrong: the marginal benefit to Pierre of another year of college is greater than the marginal cost of college.
• D) It is impossible to tell who is correct.

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Definitions:

Lincoln

Abraham Lincoln, the 16th President of the United States, who led the country during the Civil War and is credited with emancipating the slaves.

Savannah

A coastal city in the state of Georgia, known for its well-preserved historic district, cobblestone squares, and significant role in the American Civil War.

Re-elected

Refers to the act of being elected again to a position or office, typically after an initial or preceding term.

Sherman And Sheridan

Two Union generals, William Tecumseh Sherman and Philip Sheridan, known for their strategies and roles in the American Civil War that contributed significantly to the defeat of the Confederate States.