Joe is a college football player considering whether to attend another year of college or to enter the NFL draft and become a professional football player. Which of the following thoughts reflects the concept of marginal analysis? (A) Another year of college football will make me better prepared in the future, but I risk getting injured if I do so. (B) I should have a college degree. (C) If I continue in college, I will give up $405,000 in income. (D) I played on average 10 games per year as a college player and will play an average of 15 games per year in the NFL. (E) If I continue in college, I will give up a salary as well as potential income from endorsing products
Joe is a college football player considering whether to attend another year of college or to enter the NFL draft and become a professional football player. Which of the following thoughts reflects the concept of marginal analysis? (A) Another year of college football will make me better prepared in the future, but I risk getting injured if I do so. (B) I should have a college degree. (C) If I continue in college, I will give up $405,000 in income. (D) I played on average 10 games per year as a college player and will play an average of 15 games per year in the NFL. (E) If I continue in college, I will give up a salary as well as potential income from endorsing products
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Joe is a college football player considering whether to attend another year of college or to enter the NFL
draft and become a professional football player. Which of the following thoughts reflects the concept of
marginal analysis?
(A) Another year of college football will make me better prepared in the future, but I risk getting injured if I
do so.
(B) I should have a college degree.
(C) If I continue in college, I will give up $405,000 in income.
(D) I played on average 10 games per year as a college player and will play an average of 15 games per year
in the NFL.
(E) If I continue in college, I will give up a salary as well as potential income from endorsing products.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education