Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Chapter 23, Problem 1IP
To determine

Determine a decision to take an economic course in terms of cost and benefit.

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What does it mean to think like an economist?
Suppose you go to a restaurant and buy an expensive meal.  Halfway through, despite feeling quite full, you decide to clean your plate.  After all, you think, you paid for the meal, so you are going to eat all of it. What’s wrong with this thinking?
Think of an economic decision you made recently wherein the benefit outweighed the cost (or the cost outweighed the benefit).
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