The rule of rational choice suggests that you will engage in more of an activity if:
a. the total benefit from that activity exceeds the total cost of the activity
b. the total cost from that activity exceeds the total benefit of the activity.
c. the additional cost incurred as a result of the activity exceeds the additional benefit received.
d. the additional benefit received as a result of the activity exceeds the additional cost incurred.
d
You might also like to view...
There are ________ voting members on the FOMC
A) 4 B) 7 C) 12 D) 15
If a perfectly competitive firm is currently employing workers to the point where the value of the last worker's marginal product is equal to the wage rate, and the government imposes a minimum wage higher than the value of the worker's marginal
product, we can predict that A) the firm will pay the higher wage rate and not change the number of workers hired. B) the firm will no longer employ the marginal worker. C) the firm will increase its price. D) the firm will employ more workers.