Question 8 Brendan K. decides to spend two hours playing basketball rather than attending his classés. His opportunity cost of playing basketball is O nothing, since he valued playing basketball more than class attendance. O the $24 he could have earned if he had worked at his job for those two hours. the value of his basketball time less the value of attending class. the value of the knowledge he would have received had he attended class. Question D.

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter1: The Art And Science Of Economic Analysis
Section: Chapter Questions
Problem 2.2P
icon
Related questions
Question

8

So.
Question 8
Brendan K. decides to spend two hours playing basketball rather than attending his classés. His
opportunity cost of playing basketball is
nothing, since he valued playing basketball more than class attendance.
the $24 he could have earned if he had worked at his job for those two hours.
the value of his basketball time less the value of attending class.
O the value of the knowledge he would have received had he attended class.
Question 0
Transcribed Image Text:So. Question 8 Brendan K. decides to spend two hours playing basketball rather than attending his classés. His opportunity cost of playing basketball is nothing, since he valued playing basketball more than class attendance. the $24 he could have earned if he had worked at his job for those two hours. the value of his basketball time less the value of attending class. O the value of the knowledge he would have received had he attended class. Question 0
Expert Solution
Step 1

Quantity of labour can be influenced by two factors which are number of workers and other factor is number of hours for which people work. Number of available workers is determined by: 1) Size and structure of population If population is more there would be more quantity of skilled as well as unskilled workers. If more people are of working age, more workers would be there but if there are more non working age people such as children and elderly then there would be reduction in number of workers.

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Public Policy
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.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ECON MACRO
ECON MACRO
Economics
ISBN:
9781337000529
Author:
William A. McEachern
Publisher:
Cengage Learning
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax