Question

I need some help because its due tomorrow. And these are the questions: 3. According to economists, almost everything we do, has costs and benefits. Identify the costs and benefits of each of the following: going to the dentist for a checkup, doing your homework, and getting an extra hour of sleep.

Critical Thinking
6. If there were zero opportunity
cost to everything
you did, would you ever
face a trade-off? Explain
your answer.

Applying Economic
Concepts
7. Describe a recent
situation in which you
weighed marginal costs
versus marginal benefits
to make a decision.

Answer 1

Do you know what a trade-off is? Do you know what marginal costs and benefits are? I suspect your text materials explain these concepts, and I recommend you read it. It's been tried by others to some success.