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16 April, 03:24

Understanding opportunity cost

You work as an assistant coach on the university basketball team and earn $15 per hour. One day, you decide to skip the hour-long practice and, instead, go to the local carnival, which has an admission fee of $9.

The total cost (valued in dollars) of skipping practice and going to the carnival (including the opportunity cost of time) is.

A.$6

B.$9

C.$15

D.$24

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Answers (1)
  1. 16 April, 04:02
    0
    D.$24

    Explanation:

    Opportunity cost: The opportunity cost is that cost which gives the best alternative option

    The computation of the total cost is shown below:

    = Earning per hour + admission fee

    = $15 per hour + $9

    = $24

    Since the question is asking for the total cost, so we consider both the costs i. e earning per hour and admission fee.
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Home » Business » Understanding opportunity cost You work as an assistant coach on the university basketball team and earn $15 per hour. One day, you decide to skip the hour-long practice and, instead, go to the local carnival, which has an admission fee of $9.
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