A university student faces the decision of how to spend one hour tonight. She could babysit her neighbor’s child at an hourly wage of $12; she could work at the college library at a wage of $15, or she could study for her economic exam. If she chooses to study for her economic exam, she has incurred an opportunity cost equal to: $_______.

A university student faces the decision of how to spend one hour tonight. She could babysit her neighbor’s child at an hourly wage of $12; she could work at the college library at a wage of $15, or she could study for her economic exam. If she chooses to study for her economic exam, she has incurred an opportunity cost equal to: $_______.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 11SQP

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