15-23 - 15-2315-33 (continued)GO OR DON'T GO:Go Don't...

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Unformatted text preview: 15-2315-33 (continued)GO OR DON'T GO:Go Don't GoMinimum combination of costs considered above No costsClothes - swimsuit, beach towel, etc.Sunscreen, lotion, etc.EntertainmentOpportunity cost of lost wagesSeveral things should be noted about the costs listed. First, as longas you choose the least cost combination of lodging and transportationalternatives, only this minimum cost total for the preferredalternatives is relevant in the Go/Don't Go decision as lodging andtransportation cost. Second, several types of additional costs whichwere not relevant in decisions regarding lodging and transportation arelikely to be relevant in the Go/Don't Go decision. For example, oneextremely important cost to consider is the opportunity cost of yourlost wages. Another cost considered to be in this category is the costof entertainment. It is possible, of course, that entertainment costof entertainment....
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15-23 - 15-2315-33 (continued)GO OR DON'T GO:Go Don't...

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