A student is studying for an exam 2 hours a day and is debating whether to study an extra hour. The student's marginal benefit
A) depends on the grade the student earns on the exam.
B) is the benefit the student receives from studying all 3 hours.
C) is the benefit the student receives from studying the extra hour.
D) is greater than the student's marginal cost.
C
Economics
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If Sally drives less carefully after buying auto insurance, she illustrates
A) adverse selection. B) negative selection. C) moral hazard. D) lemon hazard.
Economics
If the demand for a product is elastic, then a rise in price will
a. cause total spending on the good to increase. b. cause total spending on the good to decrease. c. keep total spending the same, but reduce the quantity demanded. d. keep total spending the same, but increase the quantity demanded.
Economics