Will,Bill,and Phil Decide to Study an Extra Hour for an Exam.Instead

question 42

Multiple Choice

Will,Bill,and Phil decide to study an extra hour for an exam.Instead of studying,they could have gone out to eat,played football,or watched TV.Which of the following statements is correct?

• A) The benefit the three students receive must be the same because they all make the same choice.
• B) The students made a rational choice as long as they face no scarcity.
• C) The students could each have different opportunity costs.
• D) The marginal cost of the decision is the same if they make the same score on the exam.
• E) Going out to eat, playing football, and watching TV are all called sunk costs.

---

Definitions:

Notice

A formal communication informing someone of an action taken or to be taken, or a condition that affects legal rights or obligations.

Issues of Fact

Matters in a legal case that are subject to dispute between parties and are to be determined through the presentation of evidence.

In Rem Jurisdiction

A legal concept referring to the court's power to adjudicate matters pertaining to property within its territory, regardless of the owner's location.

Jurisdiction

The official power to make legal decisions and judgments, often defined by geographic boundaries or types of legal cases.