In each of the following situations, determine what the decision maker might be seeking to maximize and

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In each of the following situations, determine what the decision maker might be seeking to maximize and indicate (1) some factors that should be included in the calculation of costs and (2) some factors that should be included in the calculation of benefits.

a. The decision to get a college education

b. The decision to shoplift a coat

c. The decision by voters to increase property taxes

d. The decision by a business to drop a product line

e. The decision to adopt a child

f. The decision to lie g. The decision to stop smoking cigarettes h. The decision to text while driving

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Economics Theory And Practice

ISBN: 9781118949733

11th Edition

Authors: Patrick J. Welch, Gerry F. Welch

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