« previous next »

Author Question: Suppose that the opportunity cost of a student's time is greater when he studies than when he works. ... (Read 62 times)

sammy

  • Hero Member
  • *****
  • Posts: 818
on: Jun 29, 2018
Suppose that the opportunity cost of a student's time is greater when he studies than when he works. What mistake is he making and why?
 
  What will be an ideal response?

Question 2

For a person who consumes only steak and lobster, a fall in either the price of a steak or the price of a lobster shifts the budget line for the two leftward and does not change its slope.
 
  Indicate whether the statement is true or false


bfulkerson77

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

By arguing that his opportunity cost is higher for studying than when he works the student is saying that work has a more highly valued use for his time than studying. Working has a lower opportunity cost because the value of studying is less than the value or working. He should be working, not studying.

Answer to Question 2

FALSE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Gibberellin works by releasing trapped transcription factors. Gibberellin works by releasing trapped transcription factors.
Transdermal patch administration: (b) patch immediately applied to clean, dry, hairless skin and lab Transdermal patch administration: (b) patch immediately applied to clean, dry, hairless skin and lab
Earth’s history is divided into nested sets of time--eons, eras, periods, and epochs--and is called Earth’s history is divided into nested sets of time--eons, eras, periods, and epochs--and is called
The impact of climate change is greater in some areas than in others The impact of climate change is greater in some areas than in others
Your Body Works to Metabolize Alcohol Your Body Works to Metabolize Alcohol
How liposuction works? How liposuction works?
Video: Hemodynamics Animation

For a complete list of videos, visit our video library