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Please help me with this behavioral economics question~! 3. [Rational Inattention] Suppose I surprise you with a final exam in Econ 301 that contains two

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Please help me with this behavioral economics question~!

3. [Rational Inattention] Suppose I surprise you with a final exam in Econ 301 that contains two True/False questions. I inform you, truthfully, that there is a 90% chance that the correct answers to the two questions are the same (either both True or both False), and a 10% chance that they are different. The first question is relatively easy, while the second question is quite difficult. Both questions count equally towards your grade. a. Compare the marginal benefits of answering each question correctly. b. Compare the marginal costs of answering each question correctly. c. If you are time-constrained (i.e., with insufficient time to confidently answer both questions correctly), to which question should you devote more time to answering? Why? Base your answer on your conclusions from parts (a) and (b). 3. [Rational Inattention] Suppose I surprise you with a final exam in Econ 301 that contains two True/False questions. I inform you, truthfully, that there is a 90% chance that the correct answers to the two questions are the same (either both True or both False), and a 10% chance that they are different. The first question is relatively easy, while the second question is quite difficult. Both questions count equally towards your grade. a. Compare the marginal benefits of answering each question correctly. b. Compare the marginal costs of answering each question correctly. c. If you are time-constrained (i.e., with insufficient time to confidently answer both questions correctly), to which question should you devote more time to answering? Why? Base your answer on your conclusions from parts (a) and (b)

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