13. A layperson says that a proposed government project simply costs too much and therefore shouldn’t be undertaken. How might an economist’s evaluation be different? 14. Economists say that...

13. A layperson says that a proposed government project simply
costs too much and therefore shouldn’t be undertaken.
How might an economist’s evaluation be different?
14. Economists say that individuals make decisions at the
margin. What does this mean?
15. How would an economist define the efficient amount of
time spent playing tennis?
16. Ivan stops studying before the point at which his marginal
benefits of studying equal his marginal costs. Is Ivan