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Felix Alvarez, an associate of a law firm, is considering a trip to Lizard Island, Australia, for a month. He estimates that his roundtrip airfare

Felix Alvarez, an associate of a law firm, is considering a trip to Lizard Island, Australia, for a month. He estimates that his roundtrip airfare would be $1,000, his hotel expenses $1,200 and his car rental $170. His meals cost an average of $250 per week. By going on vacation, he would not be able to work and would therefore not earn his usual $7,000 per month. Calculate the opportunity cost of going to Lizard Island for Felix.

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