1When four roommates agree to specialize in chores they are

1)When four roommates agree to specialize in chores they are most efficient, this can lead to:

A a situation in which less time is spent on chores by every roommate.

B some roommates doing many more chores than others.

C one roommate who is most efficient doing all of the chores.

D no chores getting done at all.

Please provide your rationale for your answer to the previous question.

2)

Which of the following is a decision that follows the net marginal benefit principle?

aRiding a roller coaster as many times as possible at a theme park.

b Eating as much food as possible at a buffet to get your money’s worth.

c Deciding whether to spend one more hour studying for an exam.

d Choosing to give up eating meat due to concerns regarding the treatment of animals.

Please provide your rationale for your answer to the previous question.

Solution

part 1 ans A its because of comparative advantage. the ability of an individual to carry out a particular activity (such as making a specific product) more efficiently than another activity.

part2 ans B because of marginal benefit . A person\'s marginal benefit is the maximum amount he is willing to pay to consume that additional unit of a good or service.