Imagine that you are trying to decide whether to cross a street without using the designated crosswalk at the traffic signal.
What are the expected marginal benefits of crossing? The expected marginal costs? How would the following conditions change your benefit-cost equation?
a. The street was busy.
b. The street was empty and it was 3 a.m.
c. You were in a huge hurry.
d. A police officer was standing 100 feet away.
e. The closest crosswalk was a mile away.
f. The closest crosswalk was 10 feet away.