Question

0/1 pts Incorrect Question2 ia is trying to decide whether or not to attend her class this afternoon. She tells her friend that she will miss the class, because she thinks she will get zero benefit from attending it. Her friend points out that since she pays approximately $750 per paper, and this paper has a total of 48 hours of classes, then each class is worth $15.63 Therefore to miss one of her classes will make her a loss of $15.63. Jia has already paid her fees, and this payment is non-refundable. Based on Jia and her friend's comments, which of the following is correct? The benefit of attending is $15.63, and the cost of not attending is $15.63, therefore Jia SHOULD attend this class The benefit of attending is $15.63 and the cost of attending is zero, therefore Jia SHOULD attend this class The benefit of attending is zero, and the cost of attending is $15.63 therefore Jia should NOT attend the class The benefit of attending is zero, but the cost of not attending is $15.63, therefore Jia SHOULD attend this class The benefit of attending is zero, and the $15.63 is a sunk cost, therefore Jia should NOT attend the class

Hi can anyone answer these questions?

Answer 1

Answer-2

The correct option will be The benefit of attending is zero, and the $15.63 is a sunk cost, therefore Jia should NOT attend the class.

Since the fee is already paid and its non-refundable it is a sunk cost for Jia, and attending class gives her zero benefit. Therefore, Jia does not have any incentive to attend the class. Hence, Jia should not attend the class.

Answer-3

The correct option will be 5 pounds of coffee and 5 pounds of nuts.

Tom and Susan wants to consume equal quantities of coffee and nuts. So the maximum that Tom and Susan can consume of coffee and nuts is 5 pounds of coffee and 5 pounds of nuts. For Susan, 5 pounds of coffee would take his 1 hour and in remaining 5 hours he can maximum pick 5 pounds of nuts.For Tom, In 5 hours he can take 5 pounds of coffee and in remaining 1 hours 5 pounds of nuts.

Answer-10

The correct option will be Both I and II applies

Because if each individual's demand curve is downward slopping, the market demand curve is also downward slopping as it is the horizontal summation of individual's demand curve. And secondly, size of consumer group matter as when the price falls, it attracts new buyers who can afford to buy it, therefore downward slopping.