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Lelu [443]
2 years ago
8

You want to go the Six Flags amusement park. The ticket price to enter and enjoy the rides in Six Flags is $65. You live in Rich

ardson and you need to take an Uber to go there which will cost you $40. Approximately, you will spend 6 hours in the park. Instead of going to the park, you could have driven as an Uber driver and for 4 hours (out of the 6) and earned $12 per hour. If you decided not to drive the Uber, you could have also played an online competition during this time and earned $25.
Required:
a. What is the Opportunity Cost of going to Six Flags?
b. What is the total cost of choosing to go the Six Flags?
Business
1 answer:
Lyrx [107]2 years ago
4 0

Answer:

Results are below.

Explanation:

<u>The opportunity cost is the amount of money that you won't earn when choosing one option over another. </u>In this case, one option makes you expend money and the other earn money.

Opportunity cost= 12*4 + 25

Opportunity cost= $73

<u>Now, the total cost incorporated what you will expend in Six Flags:</u>

Total cost= 65 + 40 + 73

Total cost= $178

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