Multiple Choice
The expected marginal benefit to you from purchasing a new sport utility vehicle is $20,000. The price of the new sport utility vehicle is $22,000.
A) If you are acting rationally, you will borrow $2,000 and purchase a new sport utility vehicle.
B) You will not purchase the new sport utility vehicle at this time if you are acting rationally.
C) If you do not purchase the new sport utility vehicle, your net loss will be $2,000.
D) If you are acting rationally, you will purchase sport utility vehicles until the marginal cost of doing so falls to $20,000.
Correct Answer:
Verified
Correct Answer:
Verified
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