1 1 pts question 7 when you calculate your true costs

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1 / 1 pts Question 7 When you calculate your true costs of going to college, what portion of your room-and-board expenses should be included? None of your room-and-board expenses should ever be included. You should include only the amount by which your room-and-board expenses exceed the expenses for rent and food if you were not in college. You should include only the amount by which your room-and-board expenses exceed the income you earn while attending college.
Your full room-and-board expenses should always be included. 1 / 1 pts Question 8 College-age athletes who drop out of college to play professional sports underestimate the value of a college education. are not rational decision makers. are concerned more about present circumstances than their future. are well aware that their opportunity cost of attending college is very high.
1 / 1 pts Question 9 Rational people make decisions at the margin by comparing marginal costs and marginal benefits. following marginal traditions. thinking in black-and-white terms. behaving in a random fashion. 1 / 1 pts Question 10 The marginal benefit Kyra gets from eating a second sandwich is
the total benefit Kyra gets from eating three sandwiches minus the total benefit she gets from eating two sandwiches. the total benefit Kyra gets from eating two sandwiches minus the total benefit she gets from eating one sandwich. less than the marginal cost of eating the second sandwich since she chose to eat the second sandwich. the same as the total benefit she gets from eating two sandwiches. 1 / 1 pts Question 11 After much consideration, you have chosen Cancun over Ft. Lauderdale as your Spring Break destination this year. However, Spring Break is still months away, and you may
reverse this decision. Which of the following events would prompt you to reverse this decision? The marginal cost of going to Cancun decreases. The marginal cost of going to Ft. Lauderdale decreases. The marginal benefit of going to Cancun increases. The marginal benefit of going to Ft. Lauderdale decreases. 1 / 1 pts Question 12 A barber currently cuts hair for 50 clients per week and earns a profit. He is considering expanding his operation in order to serve more clients. Should he expand?
Yes, because cutting hair is profitable. It depends on the average cost of serving more clients and the average revenue he will earn from serving more clients.

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