Question

"If I didn't have class tonight, I would save the $4 campus parking fee and spend four hours at work where I earn $10 per hour." The opportunity cost of attending class this evening is:________

Answer 1

Answer:

total opportunity cost is $44

Explanation:

given data

parking fee = $4

earn = $10 per hour

time = 4 hour

to find out

opportunity cost

solution

we first find 4 hour earning that is

earning = earn × time

earning = 10 × 4

earning in 4 hours = $40

and

saving = $4

so total opportunity cost = saving + earning

total opportunity cost = $4 + $40

so total opportunity cost is $44