What is opportunity cost of increase in income

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Reference no: EM1370101

Total Hours Hours Studying GPA Hours Working Income

60 60 4.0 0 $0.00
60 40 3.0 20 $100.00
60 30 2.0 30 $150.00
60 10 1.0 50 $250.00
60 0 0 60 $300.00

A. Compute the opportunity cost of an increase in the number of hours spent studying in order to earn a 3.0 GPA rather than a 2.0 GPA.

B. Is the opportunity cost the same for a move from a 0.0 GPA to a 1.0 GPA as it is for a move from a 1.0 GPA to a 2.0 GPA?

C. Find out opportunity cost of an increase in income from $100 to $150.00

Reference no: EM1370101

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