Principles of Microeconomics
Principles of Microeconomics
7th Edition
ISBN: 9781260110999
Author: Frank, Robert
Publisher: MCGRAW-HILL HIGHER EDUCATION
Question
Book Icon
Chapter 1, Problem 1RQ
To determine

Explain the statement ‘the private classes are better than the group classes’.

Expert Solution & Answer
Check Mark

Explanation of Solution

In general, the benefits from private lessons are greater than attending group lessons. People those who do not care about the time of learning tennis will attend group lessons and spend what they save on other things. Thus, the private lessons are more costly than group lessons.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Rajiv is training for a biathlon, a winter racing sport that combines cross-country skiing and rifle shooting. Consider the following scenario: Rajiv has only 15 hours available to devote to his training this week. Each hour he spends skiing is one hour that cannot be spent working onhis shooting. Which basic principle of individual choice do these statements best illustrate? People face trade-offs.   Rajiv has an incentive to spend more time on skiing than on shooting.   People usually exploit opportunities to make themselves better off.   Rajiv can use time most efficiently by spending the same amounts of time on skiing and shooting.
Please provide an explanation as to why each choices is either correct or wrong.
What can be used to determine if a choice is worth the cost?         cost-benefit analysis         choice-benefit analysis         risk-benefit analysis         trade-benefit analysis
Knowledge Booster
Background pattern image
Recommended textbooks for you
Text book image
Economics For Today
Economics
ISBN:9781337613040
Author:Tucker
Publisher:Cengage Learning
Text book image
MACROECONOMICS FOR TODAY
Economics
ISBN:9781337613057
Author:Tucker
Publisher:CENGAGE L
Text book image
Micro Economics For Today
Economics
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Cengage,
Text book image
Survey Of Economics
Economics
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Cengage,
Text book image
Macroeconomics
Economics
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Cengage Learning
Text book image
Microeconomics
Economics
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Cengage Learning