ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
4th Edition
ISBN: 9781285423548
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 1, Problem 2.2PA
To determine
a)
The effect of rational self-interest while deciding between attending a college full time or working for full time.
Concept introduction:
Rational self-interest means every person tries to maximize the benefit or to minimize the associated cost.
To determine
b)
The effect of rational self-interest while deciding between buying a new textbook or a used one.
Concept introduction:
Rational self-interest means every person tries to maximize the benefit or to minimize the associated cost.
Opportunity cost is the opportunity lost by choosing one alternative over the other.
To determine
c)
The effect of rational self-interest while deciding between attending a local college or an out of Town College.
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2.Answer the question.
# 4
can you explain what the correct answer is and why?
"DIFFERENCE BETWEEN NEEDS AND WANTS"
It is very important to find the difference between
want & need. The money that would be spent on
things that you may want in that moment could
instead be saved or put into things that are more
important. By doing this you may see that you can
save a lot of money, by not buying things that are
not needed and even and that most of your money
is not even being spent
*Make a response,question, or clarification for that
opinion
Chapter 1 Solutions
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
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