Module 1 HW

# Module 1 HW - a Calculate the opportunity cost of an...

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Unformatted text preview: a. Calculate the opportunity cost of an increase in the number of hours spent studying in order to earn a 3.0 grade point average (GPA) rather than a 2.0 GPA. Total Hours Hours Hours Studying GPA Working Income 60 60 4.0 \$- 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 Income when working for 30 hours( 2 gpa) \$150.00 Income when working for 20 hours( 3 gpa) \$100.00 Opportunity cost= 150-100 \$50.00 0.0 GPA to a 1.0 GPA as it is for a move from a 1.0 GPA to a 2.0 GPA? Total Hours Hours Hours Studying GPA Working Income 60 60 4.0 \$- 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 Opportunity cost for a move from 0.0 to 1.0 GPA is \$50 (\$300-\$250) This is because if instead of w initial 10 hours, the person studies and because the person studies they loose \$50 which represen Therefore, the opportunity cost for a move from 0.0 to 1.0 GPA is \$50. Opportunity cost for a move from 1.0 to 2.0 GPA is \$100(\$250-\$150). This is because if instead of 20 hours, the person studies and because the person studies they loose \$100 which represents th Therefore, the opportunity cost for a move from 1.0 to 2.0 GPA is \$100. Now that we have this information gathered I have broken it down and summarized it below: Opportunity cost from 0.0 to 1.0 = \$50.00 Opportunity cost from 1.0 to 2.0 = \$100.00 So as you can see the opportunity cost are not the same b. Is the opportunity cost the same for a move from a working for that nts the opportunity cost. f working those he opportunity cost. from \$100 to \$150?...
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Module 1 HW - a Calculate the opportunity cost of an...

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