Willy Wisenheimer pays $230 tuition for a college course. He purchases a book for $85. He...

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Willy Wisenheimer pays $230 tuition for a college course. He purchases a book for $85. He attends class for four weeks, 3 hours per week. Willy eventually realizes that the course is more demanding than he had expected. He now understands what his advisor meant when he suggested that Willy take the "suggested prerequisite" first. Nevertheless, Willy reasons that since he has already incurred significant costs, the $230 tuition, the $85 for a book, and the time already spent in class, he should continue attending class for the remainder of the semester. What is the economic decision-making rule that Willy should apply? O If the expected extra benefit of attending the remaining class periods, expressed in terms of understanding and knowledge acquired, is greater than or equal to the expected extra cost, expressed in terms of the $230 spent on tuition, then Willy should continue attending class. O If the expected extra benefit of attending the remaining class periods, expressed in terms of the $230 spent on tuition, is greater than or equal to the expected extra cost, expressed in terms of the time already spent in class, then Willy should continue attending class. O If the expected extra benefit of attending the remaining class periods, expressed in terms of understanding and knowledge acquired, is greater than or equal to the expected extra cost expressed in terms of the highest-valued alternative use of his time that is given up, then Willy should continue attending class. O If the expected extra benefit of attending all remaining classes, expressed in terms of the time he could use to do something else, is greater than or equal to the expected extra cost, expressed in terms of additional money he would spend on some other activity, then Willy should continue attending class. Willy Wisenheimer pays $230 tuition for a college course. He purchases a book for $85. He attends class for four weeks, 3 hours per week. Willy eventually realizes that the course is more demanding than he had expected. He now understands what his advisor meant when he suggested that Willy take the "suggested prerequisite" first. Nevertheless, Willy reasons that since he has already incurred significant costs, the $230 tuition, the $85 for a book, and the time already spent in class, he should continue attending class for the remainder of the semester. What is the economic decision-making rule that Willy should apply? O If the expected extra benefit of attending the remaining class periods, expressed in terms of understanding and knowledge acquired, is greater than or equal to the expected extra cost, expressed in terms of the $230 spent on tuition, then Willy should continue attending class. O If the expected extra benefit of attending the remaining class periods, expressed in terms of the $230 spent on tuition, is greater than or equal to the expected extra cost, expressed in terms of the time already spent in class, then Willy should continue attending class. O If the expected extra benefit of attending the remaining class periods, expressed in terms of understanding and knowledge acquired, is greater than or equal to the expected extra cost expressed in terms of the highest-valued alternative use of his time that is given up, then Willy should continue attending class. O If the expected extra benefit of attending all remaining classes, expressed in terms of the time he could use to do something else, is greater than or equal to the expected extra cost, expressed in terms of additional money he would spend on some other activity, then Willy should continue attending class.

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