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TRUE OR FALSE? a) Jimmy an elite athlete and has a choice between three careers: he can join Major League Baseball and make $1 million

TRUE OR FALSE?

a) Jimmy an elite athlete and has a choice between three careers: he can join Major League Baseball and make $1 million per year, he can join the National Hockey League and make $2 million per year, or he can join the National Football League and make $2 million per year. Assuming he only cares about monetary compensation, Jimmy's opportunity cost of playing in the NFL is $2 million per year.

b)I have a choice between three activities on Friday night: drinking at the pub with my friends, going bowling, or sitting at home and getting high. I hate getting high at home, but I enjoy the other two activities. Therefore, the opportunity cost of going bowling for me is the combined satisfaction I'd receive if I went to the pub with my friends and got high at home.

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