Jon and Sally are married. Sally works, Ion stays home. Jon has an opportunity to gain employment. He would be working for $10 per hour 30 hours a week. Day care for their two
children will cost $7 dollars an hour, son must drive 15 miles to and from work. It will cost him
$4.25 a day for gas to drive to work.
• Marginal Cost refers to the additional amount of effort, expense, or time.
• Marginal Benefit refers to the additional positive value one receives
For the scenario, complete the following:
3. Describe the Marginal Cost: (What is it going to cost him to work?)
4. Describe the Marginal Benefits (What is he going to make working?)
S. In your opinion, should lon take the job?