--%>

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 : Marginal utility of good at its maximum

    Can someone help me in finding out the right answer from the given options. The consumer maximizes utility whenever the spending patterns cause: (1) Marginal utility of each and every good to be at its maximum value. (2) Marginal utilities of each and every goods cons

  • Q : Define fiscal policy Define fiscal

    Define fiscal policy? Answer: Fiscal policy is the revenue and expenditure policy of government with a view to combat the state of inflationary or deflationary gap

  • Q : Analyzing regions leading transaction

    Analyze at least 3 possible regions for the industry which could lead to transaction costs, explaining each in detail.

  • Q : Why is tax not a capital receipt

    Illustrate, why is tax not a capital receipt?

  • Q : Fiscal and monetary policies in

    Explain the impact of changes in fiscal and monetary policies in curtailing inflation?

  • Q : Zero primary deficits What points out

    What points out zero primary deficits? Answer: Zero primary deficits signify that the government has to resort to borrowings simply to make interest payments.

  • Q : If the MPC is .70 and investment

    If the MPC is .70 and investment increases by $3 billion, the equilibrium GDP will:

  • Q : Fiscal Monetary changes With the

    With the general equilibrium framework in place, the stage is now set for introducing fiscal and monetary changes and analysing their effects on the general equilibrium. We will first introduce a fiscal change in the form of increase in deficit-financed expenditure, a

  • Q : Declines of percentage of income paid

    Since the percentage of income paid in taxes generally declines as taxpayer income increases, standard sales taxes and “sin” taxes [for example, excise taxes upon liquor or tobacco] are illustrations of: (1) proportional t

  • Q : Crisis in Japan & US Question: What can

    Question: What can we learn from the Japanese experience? Is the US headed for a 'lost decade? Answer: There was a similari