Charlie went to the fair. At the end of the night, he had two ride tokens left. He could use them both to ride the Ferris Wheel one last time, or he could use one to visit the fun house and one to ride the roller coaster. Charlie decided to ride the Ferris Wheel.
Which statement BEST describes Charlie’s choice?
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Charlie decided the marginal benefit of spending two tokens on the Ferris Wheel exceeded the marginal cost of giving up two rides.
Charlie does not like roller coasters.
Charlie decided the marginal benefit of spending two tokens on the Ferris Wheel did not exceed the marginal cost of giving up two rides.
Charlie was tired and ready to leave, so one more ride appealed most to him.
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The statement that BEST describes Charlie’s choice is:
Charlie decided the marginal benefit of spending two tokens on the Ferris Wheel exceeded the marginal cost of giving up two rides.
This option indicates that Charlie valued riding the Ferris Wheel more than the alternative options he had, reflecting a decision based on perceived benefits outweighing the costs associated with his choice.
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