This economics question tests your understanding of economic models and analysis. The step-by-step answer below applies the relevant framework and explains the reasoning.

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4 stepsB. Not attend the class because costs exceed benefits According to rational choice theory, an action should be taken only if the marginal benefit is greater than or equal to the marginal cost. Here, the marginal benefit (5.25), so it is rational not to attend.
B. Literacy rate and school enrollment Literacy rate and school enrollment directly measure the level of education within a population, which is a key aspect of social development.
C. Land tenure disputes and degradation reduce productive use Land is a fixed resource that can suffer from degradation (loss of fertility or quality) and be subject to ownership conflicts (land tenure disputes), both of which limit its productive use.
B. The wages you could have earned if you worked instead Opportunity cost is the value of the next best alternative that was not taken. If you attend college, you forgo the income you could have earned by working during that time.
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This economics question tests your understanding of economic models and analysis. The step-by-step answer below applies the relevant framework and explains the reasoning.