The Decision to Go to Graduate School Is a Rational

question 228

Multiple Choice

The decision to go to graduate school is a rational one for a college student if the

• A) cost is not too great.
• B) marginal cost exceeds the marginal benefit of graduate school.
• C) marginal benefit of graduate school exceeds the marginal cost.
• D) opportunity cost of graduate school equals zero.
• E) student carefully compared the benefits of this decision to the sunk costs of the decision.

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Definitions:

Endorphins

Endorphins are neurotransmitters in the brain that act as natural painkillers and mood elevators, often released in response to stress and pain.

Morphine

A potent opiate analgesic drug derived from the opium poppy, used to treat severe pain.

Codeine

An opiate used to treat pain, as a cough suppressant, or occasionally in the treatment of diarrhea.

Neurotransmission

The process by which nerve cells (neurons) communicate with each other through the exchange of chemical messengers called neurotransmitters.