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Kevin has a lot of free time and he decides to pick up a new hobby. He has two options—he can take ...

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Kevin has a lot of free time and he decides to pick up a new hobby. He has two options—he can take ...

Kevin has a lot of free time and he decides to pick up a new hobby. He has two options—he can take art classes or can sign up for French cooking classes. He estimates that the art classes would cost him $70, and would provide him with a benefit of $100. On the other hand, the cooking classes would cost him $120, but provide him benefits worth $160. Use cost-benefit analysis to arrive at the optimum choice for Kevin.

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Microeconomics

Edition: 1^st

Authors: Acemoglu, Laibson, List

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