Denise decides to spend three hours working overtime

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8. Denise decides to spend three hours working overtime rather than watching a video with her friends. She earns $10 an hour. Her opportunity cost of working is a. the $30 she earns working. b. the $30 minus the enjoyment she would have received from watching the video. c. the enjoyment she would have received had she watched the video. d. nothing, since she would have received less than $30 of enjoyment from the video. 9. For a college student who wishes to calculate the true costs of going to college, the costs of room and board 10. For which of the following individuals would the opportunity cost of going to college be highest?
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4 11. It costs a company $50,000 to produce 5000 beach towels. The company’s cost will be $50,009 if it produces an additional beach towel. If the company produces 5,000 beach towels then 12. Caroline eats two bananas during a particular day. The marginal benefit she enjoys from eating the second banana a. can be thought of as the total benefit Caroline enjoys by eating two bananas minus the total benefit she would have enjoyed by eating just the first banana. b. determines Caroline’s marginal cost of the first and second bananas. c. does not depend on how many bananas Caroline has already eaten. d. All of the above are correct. 13. After much consideration, you have chosen Ireland over Spain for your Study Abroad program next year. However, the deadline for your final decision is still months away and you may reverse this decision. Which of the following events would prompt you to reverse this decision?
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  • Fall '18
  • Economics, Caroline, Senator Brown, senator green, Economics of Everyday Life

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