Which person has the highest opportunity cost of obtaining a college degree (assuming that attending college requires giving up his or her current position) ?
A) Bill, who is unemployed.
B) Jane, who is an unwed mother and earns $15,000 a year.
C) Larry, who is a technician in the navy earning $18,000 a year with free food and housing.
D) Mary, who has a job earning $60,000 a year as a computer programmer.
E) Unable to determine from the data given.
Correct Answer:
Verified
Q103: A graph with a positive slope indicates
Q104: Statistical correlation always implies causation.
Q105: The steepness of a curve is partially
Q106: Which of the following is an example
Q109: Jack, an outstanding high school baseball player,
Q110: Slope will vary along a curve (as
Q111: Opportunity cost includes
A)only the actual amount spent
Q112: Jack buys a computer from Sam, knowing
Q113: Opportunity cost can best be defined as
Q124: Rational choice requires that opportunity cost be
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents