What is opportunity cost of your day at professional game

Assignment Help Econometrics
Reference no: EM13191018

Ahead of you is a wonderful weekend. You bought a ticket to see a professional football game. The ticket cost $50 a piece, plus you estimate a cost of $25 each for gas to the game and parking. Since the game is in the middle of the afternoon, you arrange to get the day off of work. Normally you make $75 per day at your job. The day of freedom ahead of you has you daydreaming of all the other things you could do with your time instead of going to the game. Flying to Florida for example. It would be nice to go despite the four-hour, one-way flight. You recently saw a round-trip fare of $330 to Florida. What is the opportunity cost of your day at the professional football game?

Reference no: EM13191018

Questions Cloud

By how much is consumer surplus higher : On the other hand, the Iceland Planning Commission has determined that five refrigerator suppliers would be sufficiently competitive to bring price into equality with average cost. The five-firm equilibrium would yield a price of $100 and a total ..
Which relationship can best be described as casual : which relationship can best be described as casual?
Find out the rate law for the oxidation : we had used a red dye, what changes would you make in your experimental procedure to determine the rate law for the oxidation of the red dye by sodium hypo-chloride?
Find the work needed to build the pyramid : A Pyramid is 785 ft high (due to erosion, its current height is slightly less) and has a square base of side 3140 ft. Find the work needed to build the pyramid if the density of the stone is estimated at 180 lb/ft^3.
What is opportunity cost of your day at professional game : Ahead of you is a wonderful weekend. You bought a ticket to see a professional football game. The ticket cost $50 a piece, plus you estimate a cost of $25 each for gas to the game and parking. Since the game is in the middle of the afternoon, you ..
Define a piece of solid carbon dioxide : A piece of solid carbon dioxide, with a mass of 7.8g is placed in a 4.0L otherwise empty container at 27 deg C. What is the pressure in the container after all the carbon dioxide vaporizes?
Find the perimeter of the triangle lying in xyz-space : find the perimeter of the triangle lying in xyz-space with vertices at the points: (5,-2,3), (4,7,3), and (4,7,9)
Why would you expect the inflation rate to accelerate : Why would you expect the inflation rate to accelerate if the actual unemployment rate declined to a level lower than the "full employment" unemployment rate (NAIRU)? Explain your answer in a few sentences. What state of business cycles (such as re..
Define the mechanism for hemolytic bond cleavage : identify the two compounds that are likely to undergo homolytic bond cleavage, and show the mechanism for hemolytic bond cleavage.

Reviews

Write a Review

Econometrics Questions & Answers

  Design a simple econometric research project

Design a simple econometric research project

  Multiplicative decomposition method

Multiplicative decomposition method

  Market for cigarettes

The Australian government administers two programs that affect the market for cigarettes.

  Solve the forecast model

Solve the forecast model

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Write the t statistic for testing the null hypothesis

Explain why this model violates the assumption of no perfect collinearity.  Write the t statistic for testing the null hypothesis

  What is economics system

What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type

  Multiple choice questions related to market concentration

Determine when a competitively produced product generates negative externalities in production, the industry will,

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculating the average days past due and average flow time

Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:

  Mechanism of an english auction and second price auction

Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd