You have just woken up and are deciding whether to sleep for one more hour or not. If you don’t go back to sleep, the following is a list of the different things you could do (along with the value you would get from doing each). You could work-out (and get a $100 value) or you could watch TV (and get a $250 value) or you could read the newspaper (and get a $30) or you could eat breakfast (and get a $170 value). What is your opportunity cost of going back to sleep for one more hour? a)$250 b) $100 c) $170 d) $50
You have just woken up and are deciding whether to sleep for one more hour or not. If you don’t go back to sleep, the following is a list of the different things you could do (along with the value you would get from doing each). You could work-out (and get a $100 value) or you could watch TV (and get a $250 value) or you could read the newspaper (and get a $30) or you could eat breakfast (and get a $170 value). What is your opportunity cost of going back to sleep for one more hour? a)$250 b) $100 c) $170 d) $50
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter1: The Economic Approach
Section: Chapter Questions
Problem 12CQ
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You have just woken up and are deciding whether to sleep for one more hour or not. If you don’t go back to sleep, the following is a list of the different things you could do (along with the value you would get from doing each). You could work-out (and get a $100 value) or you could watch TV (and get a $250 value) or you could read the newspaper (and get a $30) or you could eat breakfast (and get a $170 value). What is your opportunity cost of going back to sleep for one more hour?
a)$250
b) $100
c) $170
d) $50
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