Question
You are considering to take a 2 days staycation to Lantau Island during the weekend. You have already bought a round trip ferry ticket at
You are considering to take a 2 days staycation to Lantau Island during the weekend.
You have already bought a round trip ferry ticket at $146, which is fully refundable.
To go to Lantau Island, you will have to apply for a leave from the part-time job where you normally work 10-hours a day at $16 per hour.You will live in your friend's place so you don't have to spend anything on accommodation.
You currently live in a hotel with a daily rent of $306 that is non-refundable and typically pay $76 per day for food.
You estimated that you need to pay a total of $272 for food during the staycation.Assuming there are no other costs, the total opportunity cost of the staycation for you is[Answer]dollars.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started