A worker making $20 per hour decides to take a day of unpaid leave from work to attend a graduation ceremony. The worker ordinarily works and 8-hour day and is subjected to a total tax rate of 20%
What is the worker's total opportunity cost from the day of unpaid leave?
A) $8.00
B) $128.00
C) $112.00
D) $160.00
Answer: B
Explanation: B) $160 × 5% = $8; $160 × 70% = $112; $112 + $8 = $120
Business
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