Melanie Decided to Sleep in Today Rather Than Attend Her

question 53

Multiple Choice

Melanie decided to sleep in today rather than attend her 9 a.m. economics class. According to economic analysis, her choice was

• A) irrational, because economic analysis suggests you should always attend classes that you have already paid for.
• B) irrational, because oversleeping is not in Melanie's self-interest.
• C) rational if Melanie has not missed any other classes.
• D) rational if Melanie values sleep more highly than the benefit she expects to receive from attending the class.

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Definitions:

Control Agent

An entity or individual assigned to oversee and manage specific aspects of a project, process, or operation to ensure it meets predetermined criteria or standards.

Current Income

This refers to the total amount of income generated from various sources, including wages, investments, and other types of income over a current period of time.

Short-term Finance

Financing obtained for a time period of less than one year, often used to address immediate operational needs.

Commercial Paper

An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable and inventories.