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.

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter1: What Economics Is About

Section: Chapter Questions

Problem 24QP

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