3. A layperson says that a proposed government project simply costs too much and therefore shouldn’t be undertaken. How might an economist’s evaluation be different? 14. Economists say that individuals make decisions at the margin. What does this mean? 15. How would an economist define the efficient amount of time spent playing tennis? 16. Ivan stops studying before the point at which his marginal benefits of studying equal his marginal costs. Is Ivan
3. A layperson says that a proposed government project simply costs too much and therefore shouldn’t be undertaken. How might an economist’s evaluation be different? 14. Economists say that individuals make decisions at the margin. What does this mean? 15. How would an economist define the efficient amount of time spent playing tennis? 16. Ivan stops studying before the point at which his marginal benefits of studying equal his marginal costs. Is Ivan
Chapter1: What Economics Is About
Section: Chapter Questions
Problem 24QP
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Question
13. A layperson says that a proposed government project simply
costs too much and therefore shouldn’t be undertaken.
How might an economist’s evaluation be different?
14. Economists say that individuals make decisions at the
margin. What does this mean?
15. How would an economist define the efficient amount of
time spent playing tennis?
16. Ivan stops studying before the point at which his marginal
benefits of studying equal his marginal costs. Is Ivan
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