Mid-term Exam (Chapter 1-4)-解答版.pptVIP

Chapter 1 Ten Principles of Economics 1. Rational people make decisions “at the margin” by comparing a. average costs and benefits. b. total costs and benefits. c. additional costs and benefits. d. opportunity costs and benefits. Answer: C 2. Suppose the cost of flying a 200-seat plane for an airline is $100,000 and there are 10 empty seats on a flight. If the marginal cost of flying a passenger is $200 and a standby passenger is willing to pay $300, the airline should a. sell the ticket because the marginal benefit exceeds the marginal cost. b. sell the ticket because the marginal