From 8 to 11 p.m., Sam can either attend a basketball game, a hockey match or the symphony. Suppose that Sam decides to attend the hockey match and thinks to herself that if she did not go to the match she would go to the symphony
Then the opportunity cost of attending the hockey match is A) going to the symphony and the basketball game.
B) going to the symphony.
C) going to the basketball game.
D) three hours of time.
B
You might also like to view...
The "stagflation" of the 1970s ________ Keynesian macroeconomics until the Keynesians started to build the consequences of changing inflationary expectations and ________ shocks into their models
A) reinforced the dominance, supply B) reinforced the dominance, demand C) deepened the eclipse, supply D) deepened the eclipse, demand
Suppose the government taxes 10 percent of the first $30,000 in income, 20 percent of the next $20,000 in income, and 30 percent of all income over $50,000 . Calculate the marginal tax rate and the average tax rate for a person who earns $70,000