Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Question
Chapter 21, Problem 6IP
(a)
To determine
The reason for student choosing the first option.
(b)
To determine
The reason for student choosing the second option.
(c)
To determine
The rational choice of the assignments.
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Students have asked these similar questions
Why does knowing the facts help people maximize their choices
What is choice on economic
Joab and his friends used to play a game where they put on a dog's electric fence collar and tried to stand over the electric fence line because, after careful
consideration of the costs and benefits, they decided that the benefits of watching their friends get shocked outweighed the costs of being shocked themselves.
According to the economic way of thinking, by playing this game, Joab and his friends were
O not responding to the incentives they faced.
making an irrational choice.
making a rational choice.
not fully considering the costs and benefits of their decision since this is obviously a mistake for anybody to do.
Chapter 21 Solutions
Microeconomics
Ch. 21.1 - Prob. 1QCh. 21.1 - Prob. 2QCh. 21.1 - Prob. 3QCh. 21.1 - Prob. 4QCh. 21.1 - Prob. 5QCh. 21.1 - Prob. 6QCh. 21.1 - Prob. 7QCh. 21.1 - Prob. 8QCh. 21.1 - Prob. 9QCh. 21.1 - Prob. 10Q
Ch. 21 - Prob. 1QECh. 21 - Prob. 2QECh. 21 - Prob. 3QECh. 21 - Prob. 4QECh. 21 - Prob. 5QECh. 21 - Prob. 6QECh. 21 - Prob. 7QECh. 21 - Prob. 8QECh. 21 - Prob. 9QECh. 21 - Prob. 10QECh. 21 - Prob. 11QECh. 21 - Prob. 12QECh. 21 - Prob. 13QECh. 21 - Prob. 14QECh. 21 - Prob. 15QECh. 21 - Prob. 16QECh. 21 - Prob. 17QECh. 21 - Prob. 18QECh. 21 - Prob. 19QECh. 21 - Prob. 1QAPCh. 21 - Prob. 2QAPCh. 21 - Prob. 3QAPCh. 21 - Prob. 4QAPCh. 21 - Prob. 5QAPCh. 21 - Prob. 1IPCh. 21 - Prob. 2IPCh. 21 - Prob. 3IPCh. 21 - Prob. 4IPCh. 21 - Prob. 5IPCh. 21 - Prob. 6IP
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