College-age athletes who drop out of college to play professional sports

College age athletes who drop out of college to play professional sports Are not rational decision makers Are well aware that their opportunity cost of attending college is very high Are concerned more about present circumstances than their future Underestimate the value of college education A marginal change is a Long-term trend Large, significant adjustment Change for the worse, and so is usually short-term Small incremental adjustment People make decisions at the margin by Following tradition Experience Calculating dollar costs Comparing costs and benefits Economists understand that people respond to Laws Incentives Threats more than rewards Positives, but not negatives A rational decision maker takes an action only if the Marginal benefit is greater than the marginal cost Marginal benefit is less than the marginal cost Average benefit is greater than the average cost Marginal benefit is greater than both the average cost and the marginal cost Which is the most accurate statement about trade? Trading for a good can make a nation better off only if the nation cannot produce that good itself Trade makes some nations better off and others worse off Trade helps rich nations and hurts poor nations Trade con make every nation better off which of the following is the best statement about markets? Because people usually exploit gains from trade, markets usually lead to efficiency Markets are usually Inferior to central planning as a way to organize economic activity Markets fail and therefore not an acceptable way to organize economic activity Markets are a good way to organize economic activity in developed nations, but not in less developed nations Economists use models in order to Learn how the economy works Make their profession appear more precise Make economics difficult for students Make sure that all the details of the economy are included in their analysis 17. A model is A theoretical abstraction with very little value Useful to only the ones who constructed it A simplification of real life None of the above University age athletes whom fall away from university to try out expert activities aren’t logical choice manufacturers are very well mindful that their possibility price of going to university is extremely high are worried more about current circumstances than their future Underestimate the worth of university training A marginal modification is a long-lasting trend big, significant modification Change the even worse, so is normally short-term tiny incremental modification individuals make choices at margin by After tradition Experience Calculating buck expenses Comparing expenses and advantages Economists realize that individuals answer Laws Incentives Threats over benefits Positives, however negatives a logical choice manufacturer takes an action only when the Marginal advantage is higher than the marginal expense Marginal advantage is under the marginal expense typical advantage is higher than the typical expense Marginal advantage is higher than both normal expense together with marginal expense that will be the absolute most accurate declaration about trade? Trading for an excellent will make a nation best off only when the world cannot create that good it self Trade makes some countries best off yet others even worse off Trade assists rich countries and hurts bad countries Trade con make every country best off which associated with the after is the greatest declaration about areas? Because individuals often exploit gains from trade, areas often cause effectiveness areas are inferior compared to main preparation in order to arrange financial task areas fail therefore maybe not a suitable option to arrange financial task areas are a great way to arrange financial task in developed countries, however in less developed countries Economists utilize models in order to discover the way the economy works Make their career appear more accurate generate economics problematic for pupils be sure that everything associated with the economy are contained in their analysis 17. A model is A theoretical abstraction with little value helpful to just the people whom constructed it A simplification of true to life None associated with the above
Q9 is answered below.
from training. Meaning possibility expense from learning are
consider that web advantages from activities far surpasses the huge benefits
more than possibility price of playing. Therefore they choose playing
For university athletes whom choose gonna play expert
activities as opposed to learning are logical decission manufacturers and tend to be

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9.

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