A . Give an economics-based explanation for why class attendance is usually higher on the first day of class and on the days before major exams. b. Describe some policies that your instructor could implement to reduce absences and give an economics-based explanation of why they would have the desired effect
a . The opportunity cost of missing class on the first day is relatively high since instructors usually provide useful information on the first day (for instance, information about grading policies and exam
schedules). Similarly, the opportunity cost of missing class on the days before major exams is relatively high because instructors often spend time reviewing or providing useful exam information.
b. Some possible policies to reduce absences are to: assign extra credit or a grade for attendance, penalize students for missing classes, or give pop quizzes. These policies promote attendance by raising the opportunity cost of missing class.
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