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 197 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

ultraflyy23

  • Member
  • Posts: 312
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Cost Savings with an EHR System Cost Savings with an EHR System
Typical Startup Cost Categories Cont. Typical Startup Cost Categories Cont.
Does It Cost More to Eat Healthy? Does It Cost More to Eat Healthy?
Share of Human Capital in Wages in Developing Countries Share of Human Capital in Wages in Developing Countries
Cost of Laptops Cost of Laptops
When operating your own business, it is wise to know your cost of capital and that of the ... When operating your own business, it is wise to know your cost of capital and that of the ...
Video: Darwin's Observation (Fossils, Galapagos Islands & Africa ) and Natural Selection (Adaptive Traits)

For a complete list of videos, visit our video library