Assignment Part I: Cassian is attending a football game at the University of Georgia. It's a hot and sunny day and he is really thirsty so he decides to buy a slushie. Each slushie costs $4 at the concession stand. Complete the table and questions below. 1. What is the marginal cost of each slushie?_$4 2. Calculate the marginal benefit from each slushie and answer Yes or No whether Cassian should purchase it. Should he purchase Total Benefit of Marginal Benefit of Quantity of Slushies the slushie? Yes or Slushies Each Slushie No 1 2. 14 18 4 20 5 18 6. 13 3. What is the maximum number of slushies Cassian will purchase?
Assignment Part I: Cassian is attending a football game at the University of Georgia. It's a hot and sunny day and he is really thirsty so he decides to buy a slushie. Each slushie costs $4 at the concession stand. Complete the table and questions below. 1. What is the marginal cost of each slushie?_$4 2. Calculate the marginal benefit from each slushie and answer Yes or No whether Cassian should purchase it. Should he purchase Total Benefit of Marginal Benefit of Quantity of Slushies the slushie? Yes or Slushies Each Slushie No 1 2. 14 18 4 20 5 18 6. 13 3. What is the maximum number of slushies Cassian will purchase?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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I'm struggling with 1 and 2
Transcribed Image Text:FUNDAMENTAL ECONOMIC PRINCIPLES
Directions: Use the scenarios provided to answer the questions that follow. Complete the charts and use
the data to answer the questions that come after.
Assignment Part I:
Cassian is attending a football game at the University of Georgia It's a hot and sunny day and he is really
thirsty so he decides to buy a slushie. Each slushie costs $4 at the concession stand.
Complete the table and questions below.
1.
What is the marginal cost of each slushie? $4
2. Calculate the marginal benefit from each slushie and answer Yes or No whether Cassian should
purchase it.
Should he purchase
Total Benefit of
Marginal Benefit of
Quantity of Slushies
the slushie? Yes or
Slushies
Each Slushie
No
1
8
14
3
18
4
20
5
18
6.
13
3. What is the maximum number of slushies Cassian will purchase?
Assignment Part II:
You are a high school senior and have the option of attending a four year university, attending a
two year university, attending a technical school, joining the military or going to work directly out
of high school. Complete the chart below with your top three choices and describe the yearly cost
and benefit of each option.
4.
Option (be specific – do not
just say college or work. Say
Benefit
Cost
WHERE vou would attand or
OFocus
目
ch
DELL
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