Use the Information Below to Answer the Following Questions

question 23

Multiple Choice

Use the information below to answer the following questions.
Fact 10.2.1
Consider the following three methods of preparing your tax return. Method A uses a personal computer (cost equal to $1,000) and 1 hour of your time. Method B uses a calculator (cost equal to $30) and 12 hours of your time. Method C uses pen and paper (cost equal to $1) and 2 days (16 hours) of your time.
-Consider Fact 10.2.1. Choose the best statement.

• A)When your wage rate is $5 per hour, the economically efficient method is method C.
• B)When your wage rate is $50 per hour, the economically efficient method is method B.
• C)When your wage rate is $500 per hour, the economically efficient method is method A.
• D)all of the above
• E)B and C only

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Definitions:

Avoiding Criticism

A behavior or strategy aimed at preventing or minimizing negative feedback or judgment from others.

Risky Sexual Behaviors

Actions that increase the likelihood of contracting sexually transmitted infections and/or lead to unintended pregnancies, often due to lack of protection or informed consent.

Extrinsic Motives

Motivation that is driven by external rewards such as money, fame, grades, and praise.

Extrinsic Motivation

The pursuit of an activity for external rewards, such as money or fame.