Choosing to Study for an Exam Until the Extra Benefit

question 5

Multiple Choice

Choosing to study for an exam until the extra benefit (e.g., improved score) equals the extra cost (e.g., the value of foregone activities) is:

• A)not an economic choice.
• B)an application of the Cost-Benefit Principle.
• C)an application of the Scarcity Principle.
• D)not rational because it ignores the importance of total benefits and total costs.

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