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b) Describe a choice you made at some point in your life, and explain it in...

b) Describe a choice you made at some point in your life, and explain it in terms of marginal benefits and marginal costs. c) Can you think of a time in your life when comparing marginal benefits and marginal costs would have been inappropriate?

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Answer #1

B.I has to decide whether to take additional hours of tutions of econometrics or devote the hour to self study.

The marginal cost was the tutuion fees paid and the hours of self study lost.

Marginal benefit was additional knowledge of econometrics.

C.Yes,last month I took children of an orphanage to dinner and I didn't consider the cost or benefits because it gave me a different kind of satisfaction.I don't think we should assign costs when we are pursuing acts of social work.

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