Author Question: A student is studying for an exam 2 hours a day and is debating whether to study an extra hour. The ... (Read 88 times)

jman1234 · **on:** Jun 29, 2018

A student is studying for an exam 2 hours a day and is debating whether to study an extra hour. The student's marginal benefit

A) depends on the grade the student earns on the exam.
B) is the benefit the student receives from studying all 3 hours.
C) is the benefit the student receives from studying the extra hour.
D) is greater than the student's marginal cost.

Question 2

A substantial increase in the legal minimum wage will tend to

A) expand employment by increasing purchasing power and hence the demand for output.
B) improve the position of the least skilled persons in the labor force.
C) reduce employment by raising the cost of hiring some employees above their expected worth to potential employers.
D) reduce the wages of highly skilled and highly paid employees.