Arlene quits her $125,000-a-year job to take care of her ailing parents. What is the opportunity cost of her decision? A. the value she attributes to the satisfaction she receives from taking care of her parents B. zero, since she will no longer be earning a salary C. It depends on the "going rate" for home-care providers. D. at least $125,000
Arlene quits her $125,000-a-year job to take care of her ailing parents. What is the opportunity cost of her decision? A. the value she attributes to the satisfaction she receives from taking care of her parents B. zero, since she will no longer be earning a salary C. It depends on the "going rate" for home-care providers. D. at least $125,000
Chapter2: Scarcity And Opportunity Costs
Section: Chapter Questions
Problem 14E
Related questions
Question
Arlene quits her $125,000-a-year job to take care of her ailing parents. What is the opportunity cost of her decision?
A.
the value she attributes to the satisfaction she receives from taking care of her parents
B.
zero, since she will no longer be earning a salary
C.
It depends on the "going rate" for home-care providers.
D.
at least $125,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc