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One of Jessuina's New Year's resolutions was to exercise more,so she bought an annual membership to the gym that allows unlimited visits.Unfortunately,the gym is so crowded and noisy that Jessuina leaves every day with a headache,without working out at all.According to marginal analysis,Jessuina should:
A) continue using the gym for the year,since she has already paid for the membership.
B) join another gym only if a membership is cheaper at the new gym.
C) join another gym only if she can get a refund on her current membership.
D) stop using the gym.
Marginal Analysis
An approach in economics used to examine the benefits and costs of an additional unit of production or action.
Annual Membership
A subscription or fee paid once a year to belong to a club, organization, or service, granting the member certain privileges, services, or access.
Crowded
A situation where a location or market is overly saturated with participants, leading to increased competition or decreased comfort.
- Familiarize oneself with the concept of marginal analysis and its role in the process of making decisions.
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Learning Objectives
- Familiarize oneself with the concept of marginal analysis and its role in the process of making decisions.
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