Question
Suppose Elias currently has the following values for certain activities, where a higher value means he prefers that activity to an activity with a lower
Suppose Elias currently has the following values for certain activities, where a higher value means he prefers that activity to an activity with a lower value.
Sleeping: 120
Studying: 105
Watching TV: 103
Jogging: 90
Cleaning: 84
Renewing his driver's license: 50
What will Elias choose to do?
What is his opportunity cost (in terms of activity and value)?
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Environmental Economics And Policy
Authors: Thomas H Tietenberg
5th Edition
0321348907, 9780321348906
