You work as an assistant coach on the university basketball team and earn $14 per hour. One day, you decide to skip the hour-long practice and go to the movie theater instead, which has an admission fee of $9. The total cost (valued in dollars) of skipping practice and going to the movies (including the opportunity cost of time) is

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16-07-2019
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You work as an assistant coach on the university basketball team and earn $14 per hour. One day, you decide to skip the hour-long practice and go to the movie theater instead, which has an admission fee of $9. The total cost (valued in dollars) of skipping practice and going to the movies (including the opportunity cost of time) is

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RenatoMattice RenatoMattice · Answer 1 · 2019-07-23T08:44:28+02:00

Answer: The total cost (valued in dollars) of skipping practice and going to the movies (including the opportunity cost of time) is $23

Explanation: Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen).

Here , you choose to skip work which pays $14 per hour and instead decide to attend a hour-long movie at an admission fee of $9. Therefore the total cost of skipping practice and going to movies is $14+$9=$23.