You have the choice of going on vacation to Florida for one week, ...

[tth]

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.

[lkanara2]

Answer to Question 1

B

Answer to Question 2

B