This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Going skiing will cost Adam $80 a day. He also loses $40 per day in wages because he has to take ... (Read 226 times)

londonang

  • Hero Member
  • *****
  • Posts: 540
on: May 22, 2019
Going skiing will cost Adam $80 a day. He also loses $40 per day in wages because he has to take time off from work. Adam still decides to go skiing.
◦ His decision is rational if Adam's marginal benefit of spending a day skiing is greater than his marginal cost.
◦ The $80 price of skiing is not an opportunity cost and so did not affect Adam's decision.
◦ He loses a total of $120 per day, so his decision is irrational.
◦ Adam's lost $40 per day in wages is not an opportunity cost and so did not affect his decision.
◦ Adam is definitely making a decision that is in the social interest.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by londonang on May 22, 2019

harveenkau8139

  • Sr. Member
  • ****
  • Posts: 304
Reply #1 on: May 22, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 64% of students answer this correctly


londonang

  • Member
  • Posts: 540
Reply 2 on: May 22, 2019
YES! Correct, THANKS for helping me on my review

chjcharjto14

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Michelangelo, The Creation of Adam (restored), ceiling of the Sistine Chapel. Michelangelo, The Creation of Adam (restored), ceiling of the Sistine Chapel.
Adam Kahn, Brockholes Visitor Center. Adam Kahn, Brockholes Visitor Center.
A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
Cost of Copying for the Follower Country Cost of Copying for the Follower Country
Cost of Laptops Cost of Laptops
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Video: Kidney Stones

For a complete list of videos, visit our video library