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Someday, Susan Would Like to Participate in a Marathon

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Someday, Susan would like to participate in a marathon. Even though she has been an avid long-distance runner for many years, Susan has always been reluctant to sign up for a full marathon because she is usually about 10 pounds overweight. While watching a recent marathon in her city, Susan noticed that a significant number of the participants were also somewhat overweight. Despite their extra pounds, these runners completed the marathon and did so in a respectable amount of time. After seeing this, Susan has decided to go ahead and begin training for her own marathon. This scenario provides an example of:


Definitions:

Finance Professor

An academic expert specializing in teaching and research related to financial markets, instruments, and institutions.

Marginal Cost

The additional cost incurred from producing one more unit of a product or service.

Marginal Benefit

The boost in satisfaction or utility experienced upon consuming one more unit of a particular good or service.

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