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Scenario: Sarah has to choose between renting a hotel room for 2 days and renting a hotel room for 3 ...

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Scenario: Sarah has to choose between renting a hotel room for 2 days and renting a hotel room for 3 ...

Scenario: Sarah has to choose between renting a hotel room for 2 days and renting a hotel room for 3 days.

Refer to the scenario above. If Sarah is optimizing using marginal analysis, then which of the following statements is TRUE?

▸ She will rent the hotel room for 3 days if the cost of staying for the first 2 days is less than the cost of staying for the third day.

▸ She will rent the hotel room for 3 days if the benefit of staying for the third day exceeds the benefits of staying for the first 2 days.

▸ She will rent the hotel room for 3 days if the net benefit of staying for 3 days exceeds the net benefit of staying for 2 days.

▸ She will rent the hotel room for 3 days if the benefit of staying for the third day exceeds the cost of staying for the third day.

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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