In order to determine whether to major in economics, a rational individual compares the ________ of the decision.
A) marginal benefit and marginal cost
B) normative benefits and positive costs
C) self-interest and social interest
D) positive benefits and normative costs
E) opportunity cost and the sunk cost

Question

Quizplus · Accepted Answer

In deciding whether to major in economics, an individual would weigh the marginal benefit (i.e. potential career opportunities and earning potential) against the marginal cost (i.e. tuition and time investment). Option A correctly identifies this as the relevant comparison for a rational decision-making process.

In Order to Determine Whether to Major in Economics, a Rational