The trade-off between grades and leisure    A question may have occurred to you in thinking about our student. What is the "best" choice for our student to make? Should she give up all her leisure and earn an A, or should she settle for a C and have 78 hours of leisure each week? Are there circumstances in which the "right" choice for her would be to earn an F and spend no time at all in school work?

   From the standpoint of economic theory, we cannot answer these questions. Our student's parents will probably say that she should give up all her leisure and earn an A, after all, it isn't their free time at issue. Her stoner friends might suggest that she settle for point D. Other friends might suggest that she be content with point B, or some point between B and C. As economists, all we can say is that the "best" point is whatever our student chooses. We have no criteria for stating what choices a consumer should17 make, except to say that using resources efficiently is always a good thing, assuring that she attains an outcome on, not below, the PPF.

17 Economists may also be parents, teachers, spouses, and friends. In these roles they may have all sorts of opinions about what people close to them should do.

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