--%>

Equal Marginal advantage law

Assume that you receive $18 worth of “jollies” (that is, satisfaction, utility or pleasure) from the very first hole of golf played on a particular day, and that your extra jollies from succeeding holes drops $1 for each and every hole played. You should pay $40 up front to obtain on the course however can then play as much holes as you like devoid of any additional charge. The number of golf holes you will play would be: (1) As much as you can play before it gets too dark to recognize the ball. (2) Eighteen [18]. (3) Twenty-four [24]. (4) Twelve [12]. (5) None [zero].

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Macroeconomics

  • Q : Full-employment and Under-employment

    Distinguish between full-employment equilibrium and Under-employment equilibrium. Whenever equality among AD and AS is at full employment level it is termed as full employment equilibrium. Although whenever equali

  • Q : Unemployment (a) Do you think that

    (a) Do you think that macroeconomic policy should be designed to achieve a measured unemployment rate of zero?

  • Q : Calculating exchange rate 10 US dollars

    10 US dollars are exchanged for 500 Indian rupees. Calculate the exchange rate for Indian currency? Answer: $1 = 500/10 = Rs.50, that is, $1 = Rs. 50

  • Q : Why Exceptional Demand Curve Explain

    Explain with examples the reasons for exceptional demand curve

  • Q : Money-just another good ‘What occurs in

    ‘What occurs in the money market when there is a raise in income?’

  • Q : Define voluntary unemployment Voluntary

    Voluntary unemployment: It refers to a condition when person are not willing to do work at customary market wage rate, though they are receiving a work.

  • Q : How central bank reduce the

    Describe any two measures by which a Central Bank can attempt to decrease the gap. Answer: Central bank can decrease this gap by adopting two measures illustrated b

  • Q : Explain Product Market Equilibrium. To

    To begin with, let us recall our three-sector product-market equilibrium model given as C + I + G = C + S + TTo this three-sector model, we now add the foreign trade-the exports (X) and imports

  • Q : In which of these two statements

    "In corn market, demand often exceeds supply and supply sometimes exceeds demand." "The price of corn rises and falls in response to changes in supply and demand."

  • Q : Interpreting Macroeconomic Conditions I

    I have a problem in an assignment which involves analyzing interest rates, the CPI(consumer price index) and wage rates as they impact the automotive and gaming (with an emphasis on casinos) industries. Analyze these indicators and prepare a 3-4 page report explaining