The UQ Economics Society is considering two expenditure options. It can either buy 3,000 branded piggy banks (each costing $3.20) to distribute to UQ economics students or it can construct a giant Bloomberg monitor costing $9,600 for students to freely view. There are approximately 9,600 economics students at UQ and each student values a piggy bank (and every additional piggy bank) at $3.20 and the use of the Bloomberg monitor at $3.20. Which of the following statements are true: The total summed MB for the Bloomberg monitor is $9,600. The total summed MB for the Bloomberg monitor is $30,720 when considering all economics students. The total summed MB for piggy banks is $30,720 and the MC is $9,600, so choosing this option would not make economic sense. For each piggy bank distributed, the MB equals the MC.

The UQ Economics Society is considering two expenditure options. It can either buy 3,000 branded piggy banks (each costing $3.20) to distribute to UQ economics students or it can construct a giant Bloomberg monitor costing $9,600 for students to freely view. There are approximately 9,600 economics students at UQ and each student values a piggy bank (and every additional piggy bank) at $3.20 and the use of the Bloomberg monitor at $3.20. Which of the following statements are true: The total summed MB for the Bloomberg monitor is $9,600. The total summed MB for the Bloomberg monitor is $30,720 when considering all economics students. The total summed MB for piggy banks is $30,720 and the MC is $9,600, so choosing this option would not make economic sense. For each piggy bank distributed, the MB equals the MC.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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