Ask Question
6 March, 12:58

1. Understanding opportunity costYou work as an assistant coach on the university swim team and earn $15 per hour. One day, you decide to skip the hour-long practice and go to the county fair instead, which has an admission fee of $9. The total cost (valued in dollars) of skipping practice and going to the fair (including the opportunity cost of time) is.

(A) $6

(B) $9

(C) $15

(D) $24

+3
Answers (1)
  1. 6 March, 14:01
    0
    Option (D) is correct.

    Explanation:

    Given that,

    Money income earned as a swimming assistant coach at university = $15 per hour

    Admission fee for the county fair = $9

    Here, the opportunity cost of skipping the practice is the loss of money income from the coaching.

    Therefore,

    Total cost of skipping practice:

    = Money income lost for one hour + Admission fee for the county fair

    = $15 + $9

    = $24
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “1. Understanding opportunity costYou work as an assistant coach on the university swim team and earn $15 per hour. One day, you decide to ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers