Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Andrew decides to spend an hour playing tennis rather than working and earning a wage of $15 per hour. If playing tennis or working were

Andrew decides to spend an hour playing tennis rather than working and earning a wage of $15 per hour. If playing tennis or working were the only two options Andrew had available, which of the following should be included in the opportunity cost of his decision?

Group of answer choices:

a) Nothing, because he enjoys playing tennis more than working

b) The increase in skill he obtains from playing tennis for that hour

c) The $15 he could have earned by working

d) The cost of his tennis racket which he purchased last year

Thank you!

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

The Worldly Philosophers The Lives, Times And Ideas Of The Great Economic Thinkers

Authors: Robert L Heilbroner

7th Edition

068486214X, 9780684862149

More Books

Students also viewed these Economics questions

Question

Define the term services marketing.

Answered: 1 week ago

Question

5.2 Summarize the environment of recruitment.

Answered: 1 week ago