216_Disc1_answers-1 - Discussion 1 - ECO 216 Key 1. Kara...

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Discussion 1 - ECO 216 Key 1. Kara was out jogging and despite being tired, decided to run one more mile. Based on her actions, economists would conclude that Kara: A. must be an avid runner. B. decided that the marginal benefit of running one more mile would outweigh the cost of the additional mile. C. decided that the marginal cost of running one more mile would outweigh the benefit of the additional mile. D. was not very tired, so the marginal cost of the extra mile was very low. AACSB: Reflective Thinking Skills Bloom's: Application Learning Objective: 1-1 McConnellTBI - Chapter 001 #29 Status: New Topic: Economics; economic perspective McConnellTBI - Chapter 001
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2. Refer to the budget line shown in the diagram above. If the consumer's money income is $20, which of the following combinations of goods is unattainable ? A. 4 units of C, and 6 units of D. B. 5 units of C, and no units of D. C. 1 unit of C, and 8 units of D. D. 2 units of C, and 6 units of D. AACSB: Analytical Skills Bloom's: Analysis Learning Objective: 1-4 McConnellTBI - Chapter 001 #76 Topic: Individual's economizing problem -- budget lines McConnellTBI - Chapter 001
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216_Disc1_answers-1 - Discussion 1 - ECO 216 Key 1. Kara...

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