ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 1, Problem 2.2P
To determine
a)
The effect of rational self-interest while deciding between attending a college full time or working for full time.
Concept introduction:
Rational self-interest means every person tries to maximize the benefit or to minimize the associated cost.
To determine
b)
The effect of rational self-interest while deciding between buying a new textbook or a used one.
Concept introduction:
Rational self-interest means every person tries to maximize the benefit or to minimize the associated cost.
Opportunity cost is the opportunity lost by choosing one alternative over the other.
To determine
c)
The effect of rational self-interest while deciding between attending a local college or an out of Town College.
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