Question

The marginal cost to an individual of undertaking an activity, such as rugby game, increases as additional hours are committed because: Select one: a. firms charge proportionately more for longer activities. b. each additional hour committed to the activity provides the individual with less marginal benefit. c. the first hour committed comes at the cost of the least valued alternative activity forgone, and each hour thereafter requires forgoing more valued alternative activities. d. allocative efficiency is attained only when marginal cost is high. e. of decreasing opportunity cost.

          The marginal cost to an individual of undertaking an activity, such as rugby game, increases as additional hours are committed because:
Select one:
a. firms charge proportionately more for longer activities.
b. each additional hour committed to the activity provides the individual with less marginal benefit.
c. the first hour committed comes at the cost of the least valued alternative activity forgone, and each hour thereafter requires forgoing more valued alternative activities.
d. allocative efficiency is attained only when marginal cost is high.
e. of decreasing opportunity cost.

Added by Arthur T.

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