Question

The deadline for your research paper is tomorrow, and you still need a day of work to complete the paper. Unfortunately, you are scheduled to work all day in the cafeteria. You can turn the paper in one day late for a 10 percent penalty or take the day off of work and turn the paper in by the deadline. Losing a day of wages will cost you $90. The marginal cost of turning the paper in on time is:

A) $90
B) $81
C) $100
D) $10

Answer 1

The marginal cost of turning the paper in on time is D) $10.

Step-by-step explanation:

The marginal cost of turning the paper in on time is $10.

First, let's calculate the cost of turning the paper in one day late. The penalty for a late submission is 10% of the final grade, which means a deduction of 0.10 * 100 = 10 points. Assuming your paper is worth 100 points, that would be a deduction of 10 points.

Now, let's calculate the cost of taking the day off work. Since you would lose a day of wages, which is $90, the marginal cost of turning the paper in on time is $10 (90 - 10 = 10).