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What is hasso opportunity cost of watching the movie

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Reference no: EM132511550

Q1: Hasso can do one of the following free activities, which involve the same amount of time: watch a movie, go on a bicycle ride or work in his garden. He expects watching a movie will be the most enjoyable activity and going on a bicycle ride will be more enjoyable than working in his garden.

a) What is Hasso's opportunity cost of watching the movie?

b) What is Hasso's opportunity cost of going on a bicycle ride?

c) What is Hasso's opportunity cost of working in his garden?

Q2: Sharie is thinking about attending a concert where the price of a ticket is $105. What is her opportunity cost of attending the concert?

Q3: After buying a ticket to a concert for $105, Sharie discovers that the concert has sold out and she can resell her ticket for $280. What is her opportunity cost of attending the concert?

Q4: After buying a ticket to a hockey game for $54, Jackson discovers that ticket sales for the game are low and he can resell his ticket for $12. What is his opportunity cost of attending the hockey game?

Q5: Clarice can attend a play, which is free, or a concert with a ticket price of $40. She is willing to pay $50 to see the concert.

a) What is Clarice's opportunity cost of going to the concert?

b) What is Clarice's opportunity cost of going to the play?

Q6: Asha has a $100 gift card to spend at a clothing store where the price of a skirt is $40 and the price of a pair of pants is $25.

a) What is Asha's opportunity cost of purchasing a skirt?

b) What is Asha's opportunity cost of purchasing a pair of pants?

Q7: Sydney currently lives with her parents rent-free and earns $1,300/month at a job. If she goes to university, she would pay $1,630 in tuition, textbook and student fees for the semester and $825/month to live in residence. She would also work fewer hours and earn only $770/month.

What is Sydney's opportunity cost of going to university for one semester, which is four months long? Explain or show clearly how you arrived at your answer.

Q8: Fulton is thinking about taking a one-semester leave from teaching to travel in Nepal. Round-trip airfare for the trip would cost $1,300 and accommodations in Nepal would cost $420/month. If he goes to Nepal, Fulton would lose $3,050/month in income, would continue to pay $1,574/month on the mortgage of his home and would save $80/month on food because of the lower living costs in Nepal.

What is Fulton's opportunity cost of going to Nepal for one semester, which is four months long? Explain or show clearly how you arrived at your answer.

Q9: Chantal works 40 hours per week and needs 6 hours to research and newspaper article and 3 hours to produce a video.

a) What is Chantal's opportunity cost of producing a newspaper article?

b) What is Chantal's opportunity cost of producing a video?

Reference no: EM132511550

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