ECON 3810 Lecture 52: ECON 3810 Lecture 52

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5 May 2018

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ECON 3810

Lecture 52

Cost Benefit Analysis: Costs and Factors of Production

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Related Questions

What is your opportunity cost of being enrolled in our ECON-102 class? Explain the cost-benefit analysis and give examples.

rubykangaroo277

Explain why you made the choice to go to your economics course lecture in terms of marginal benefits and marginal costs.

	The marginal benefit of going to the lecture (passing the inevitable quiz) was less than the marginal cost of going (missing an hour of leisure time).
	The marginal cost of not going to the lecture (failing the inevitable quiz) was less than the marginal benefit of not going (the hour of leisure time).
	The marginal cost of not going to the lecture (failing the inevitable quiz) was greater than the marginal cost of going (missing an hour of leisure time).
	The marginal benefit of going to the lecture (passing the inevitable quiz) was greater than the marginal cost of going (missing an hour of leisure time).

“Cost-Benefit Analysis, a useful decision-making tool to determine if benefits outweigh costs over the long-term of a project.” Explain the advantage of using Cost-Benefit Analysis as an economic tool.

ECON 3810 Lecture 52: ECON 3810 Lecture 52

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