Author Question: Jill, an economics student, has already spent 5 hours cleaning her room. In deciding whether or not ... (Read 144 times)

xclash · **on:** Jun 29, 2018

Jill, an economics student, has already spent 5 hours cleaning her room. In deciding whether or not to continue cleaning for another hour, she applies the economic principle of

A) scarcity.
B) ceteris paribus.
C) choosing at the margin.
D) productivity.

Question 2

Are the wages of the pilots marginal costs or sunk costs to an airline trying to decide whether to add a late-night flight from Seattle to San Francisco? They are

A) marginal costs because pilots are indispensable to the flight.
B) sunk costs if the pilots will receive no additional compensation for the flight.
C) marginal costs because they will be paid after the flight rather than before.
D) sunk costs because pilots' wage rates are determined by a contract already existing.