The decision to go to graduate school is a rational one for a college student if the
A) cost is not too great.
B) marginal cost exceeds the marginal benefit of graduate school.
C) marginal benefit of graduate school exceeds the marginal cost.
D) opportunity cost of graduate school equals zero.
E) student carefully compared the social benefits of this decision.
Question 2
The form of economic organization in which productive resources are privately owned by individuals, and those individuals independently decide what to produce is called
A) communism.
B) capitalism.
C) socialism.
D) utilitarianism.