You have the choice of going on vacation to Florida for one week, staying at work for the week, or spending the week doing fix-up projects around your house. If you decide to go to Florida, the opportunity cost of the trip is
A) working and doing fix-up projects.
B) working or doing fix-up projects, depending on which you would have done otherwise.
C) working, because you would be giving up income.
D) nothing because you will enjoy the trip to Florida.
Question 2
Refer to the scenario above. Which of the following will happen in equilibrium?
A) Firm A will use Strategy X, and Firm B will use Strategy Y.
B) Firm A will use Strategy Y, and Firm B will use Strategy X.
C) Both the firms will use Strategy X.
D) Both the firms will use Strategy Y.
Decapods, from Ernst Haeckel's 1904 work Kunstformen der Natur
As Florida Goes, So Goes The Nation
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