Question 10 (11) Listen In general, the opportunity cost of an item is the number of hours needed to earn money to buy the item. what you give up to get that item. usually less than the dollar value of the item. the dollar value of the item. Question 11 (J Listen Very talented athletes who skip the last years of college to become professional athletes O obviously do not understand the value of a college education. usually do so because they are failing out of college. understand that the opportunity cost of continuing to attend college for them is very high and thus marginal costs outweigh marginal benefits. are not making a rational decision since the marginal benefits of college outweigh the marginal costs of college for all athletes.

Question 10 (11) Listen In general, the opportunity cost of an item is the number of hours needed to earn money to buy the item. what you give up to get that item. usually less than the dollar value of the item. the dollar value of the item. Question 11 (J Listen Very talented athletes who skip the last years of college to become professional athletes O obviously do not understand the value of a college education. usually do so because they are failing out of college. understand that the opportunity cost of continuing to attend college for them is very high and thus marginal costs outweigh marginal benefits. are not making a rational decision since the marginal benefits of college outweigh the marginal costs of college for all athletes.

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter8: Output, Price, And Profit: The Importance Of Marginal Analysis

Section8.A: Appendix The Relationships Among Total, Average, And Marginal Data

Problem 1TY

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