Answer:
2. Kayla's opportunity cost to go to the movie is $9.50
4. Tara's total cost of attending the movie is $50.5
Step-by-step explanation:
Complete question below:
Tara earns $8.50 an hour (after taxes) at the pizza place. She is scheduled to work four hours this afternoon. However, her friend Kayla called and asked her if she wants to go to the movie. A ticket to the movie costs $9.50. In addition, she always spends about $7 on snacks.
Which of the following statement are true? Select all that apply.
1. Tara's opportunity cost if she goes to work instead of the movie is $34.
2. Kayla's opportunity cost to go to the movie is $9.50.
3. There is no opportunity cost for Tara to go to the movie.
4. Tara's total cost of attending the movie is $50.5
5. Tara's opportunity cost if she goes to the movie instead of working is $34
Solution
Tara earns $8.50 per hour
She is scheduled to work for 4 hours
Total earnings=$8.50 × 4
=$34
Tara's opportunity cost of attending the movie instead of working is $34
Since, a ticket cost $9.50
And she always spend about $7 on snacks
Tara's total cost of going to the movies = opportunity cost of attending the movie + cost of tickets + cost of snacks
=$34 + $9.50 + $7
=$50.5
Opportunity cost refers to the cost of satisfying a want at the expense of another want. It can also be called REAL COST or TRUE COST.
Therefore,
2. Kayla's opportunity cost to go to the movie is $9.50
4. Tara's total cost of attending the movie is $50.5
2 and 4 are the answers
