Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A CIA student, Fintan, decides to go to Tavern 23 (a local bar) with a group of friends from his microeconomics class. The whole group

A CIA student, Fintan, decides to go to Tavern 23 (a local bar) with a group of friends from his microeconomics class. The whole group has an important micro exam the next day. The group shoots pool, all drinking sparkling water except for Fintan, who decides to drink several shots of bourbon. After two hours of playing pool the group leaves to go to the LLC for a two-hour microeconomics review. Fintan is too inebriated to attend the session and goes home. All the students that attend the review earn A's on the exam, Fintan doesn't sit the exam (he's too hung-over) and earns an F grade. The opportunity cost of Fintan's bourbon drinking is most likely: Question 4Select one: A. There is no opportunity cost because there's no dollar cost involved. B. An A grade on the exam. C. The value of the fun he had drinking bourbon. D. An awful headache, an upset stomach, and a feeling of foolishness

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations of Business

Authors: William M. Pride, Robert J. Hughes, Jack R. Kapoor

6th edition

1337386928, 9781337670975 , 978-1337386920

More Books

Students also viewed these Economics questions

Question

2. Find five metaphors for communication.

Answered: 1 week ago