Questions
[ECON1010] Introductory Microeconomics (external). Summer Semester, 2025, External CML Practice Quiz [ECON1010] Introductory Microeconomics (external). Summer Semester, 2025, External CML Practice Quiz
Multiple choice
Phillip is trying to lose weight at the UQ Gym. He spends $30 on a personal trainer each session. Phillip gains $100 of benefit from attending 3 sessions and $140 of benefit from attending 4 sessions. Which of the following statement(s) are true:
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Step-by-Step Analysis
Let’s unpack the scenario step by step and examine what each statement says about benefits and costs.
Option 1: 'The marginal benefit of attending the fourth session is $40.' To get the marginal benefit of the 4th session, subtract the total benefit after 3 sessions from the total benefit after 4 sessions: 140 − ......Login to view full explanationLog in for full answers
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