When Raising Cane’s Chicken Fingers restaurant opened in East Lansing, a line of 400 customers wrapped around the block. Suppose you are considering waiting in that line. You’ve decided that your marginal benefit from getting to buy chicken fingers on opening day to be $10. Which of the following statements is true? A) The private marginal benefit is greater than $10. B) External marginal cost is greater than zero because you will be making the line longer for other people. C) If private marginal cost is greater than $10, you will decide to get in line. D) If private marginal benefit is less than social marginal cost, you will decide to get in line.
When Raising Cane’s Chicken Fingers restaurant opened in East Lansing, a line of 400 customers wrapped around the block. Suppose you are considering waiting in that line. You’ve decided that your marginal benefit from getting to buy chicken fingers on opening day to be $10. Which of the following statements is true? A) The private marginal benefit is greater than $10. B) External marginal cost is greater than zero because you will be making the line longer for other people. C) If private marginal cost is greater than $10, you will decide to get in line. D) If private marginal benefit is less than social marginal cost, you will decide to get in line.
Micro Economics For Today
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Author:Tucker, Irvin B.
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Chapter14: Environmental Economics
Section: Chapter Questions
Problem 3SQP
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When Raising Cane’s Chicken Fingers restaurant opened in East Lansing, a line of 400 customers
wrapped around the block. Suppose you are considering waiting in that line. You’ve decided that
your marginal benefit from getting to buy chicken fingers on opening day to be $10. Which of
the following statements is true?
A) The private marginal benefit is greater than $10.
B) External marginal cost is greater than zero because you will be making the line longer for
other people.
C) If private marginal cost is greater than $10, you will decide to get in line.
D) If private marginal benefit is less than
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