Self-interest
A) implies that a person must try to increase wealth at all times.
B) implies that people will not give away wealth.
C) is consistent with many goals that people pursue, including betterment of others.
D) applies only to people in market settings.
Question 2
A student has a job that pays a wage rate of 10 per hour. The night before an economics exam, the student has set aside four hours to study for the exam, estimating that for each hour spent studying, her grade will rise by 5 points.
That night, she gets a call from her employer to come to work for a wage rate of 15 per hour for that night. She decides to work for three hours and earn an extra 45.00. The next day she takes the test and gets a grade of 75. The opportunity cost for her work is A) the 45.00 she earned.
B) the 15 extra points she estimates that she could have earned on the exam if she had studied the extra three hours.
C) the three hours she did not study.
D) the entire four hours she set aside for studying.
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