In: Economics
your professor has decided that from now on students who received less than a 60 percent grade on any test will be eligible to go to a review session. if they attend the session, they will receive an extra 10 percent on their grade. a fellow student sees a problem with this policy and instead proposes to your professor that people who go to the review session should receive 50 percent of the difference between their grade and 60 percent. which of the following is correct in regards to the equity and efficiency of the two proposed practices?
A- the student's policy is less equitable and less efficient than the professor's original policy.
B- the student's policy is more equitable than the professor's original policy, but not more efficient.
C- the student's policy is more efficient than the professor's original policy, but not more equitable.
D- the student's policy is more equitable and more efficient than the professor's original policy.
As per the definitions of equitable and efficiency, the correct ans must be
B.the student's policy is more equitable than the professor's original policy, but not more efficient.
equitable: Means fair and reasonable.
The proposal made by student is more equitable as, giving 10 percent extra to scorer below 60% only on attainding review session, is not justified to the students scoring more than 60%. And giving 50 percent of the difference between their grade and 60 percent, is more fair to every students.
efficient : Means being able to work well without making mistakes or wasting time and energy.
Student's proposal ofcourse needs much work to be done. That is calculating difference of scores, scored by each student and 60% and then calculating its 50% and the adding that to their original marks. This whole processes is time taking and also is prone to errors. Hence, student's policy is less efficient then the professor's one.