The Marginal Benefit Claire Gets from Purchasing a Third Pair

question 295

Multiple Choice

The marginal benefit Claire gets from purchasing a third pair of flip-flops is

• A) the same as the total benefit of purchasing three pairs of flip-flops.
• B) more than the marginal cost of purchasing the third pair of flip-flops.
• C) the total benefit Claire gets from purchasing three pairs of flip-flops minus the total benefit she gets from purchasing two pairs of flip-flops.
• D) the total benefit Claire gets from purchasing four pairs of flip-flops minus the total benefit she gets from purchasing three pairs of flip-flops.

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Definitions:

Roy Oldenburg

An American urban sociologist known for his work on the concept of "third places," which are important for civic engagement and building community.

High Culture versus Popular Culture

A distinction between the sophisticated artistic, literary, and musical pursuits associated with societal elites (high culture) and the more accessible, mass-produced entertainment and arts (popular culture).

Third Places

Social settings distinct from home (first place) and work (second place) where individuals gather for camaraderie and community, enhancing civil society.

Robert Putnam

An American political scientist known for his study on how social capital (the networks, norms, and social trust that facilitate coordination and cooperation for mutual benefit) affects communities and democracy.