David Finds He Has One Hour of Time in the Evening

question 55

Multiple Choice

David finds he has one hour of time in the evening to allocate on the first day of the new semester.He can do one of two things.He can watch TV for one hour or he can open his economics textbook and read for an hour.The benefit of watching TV is 30;the benefit of reading about economics is 20.
-If David applies the cost-benefit principle accurately,he will

• A) read about economics.
• B) watch TV.
• C) watch TV but fret that he should be reading economics.
• D) read about economics but resent missing TV.
• E) flip a coin,because the economic surplus is the same either way.

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Definitions:

Quota Sampling

A sampling method where participants are chosen to form a sample that represents certain characteristics of a population.

Academic Performance

The extent to which a student, teacher, or institution has achieved their short or long-term educational goals.

Simple Random Sampling

A sampling method where every member of a population has an equal chance of being selected.

Probability Sampling

A sampling method in which every member of the population has a known, non-zero chance of being selected, leading to representative and unbiased samples.