If the Marginal Benefit of Getting a College Degree Rises,rational

question 29

Multiple Choice

If the marginal benefit of getting a college degree rises,rational people will

• A) attend college in greater numbers.
• B) drop out of college.
• C) not change their behavior.
• D) require that college get easier.
• E) raise the marginal cost of attending college.

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of individuals increases, in contrast to normal goods.

Rational Consumer

An economic concept where consumers aim to maximize their utility or satisfaction from their available resources.

Demand for Good

The quantity of a particular good or service that consumers are willing and able to purchase at various prices during a specified time period.

Square Feet

A unit of area measurement equivalent to the area of a square with sides of one foot in length.