Ace Alexia plays professional tennis for a living, but in spite of her big first serve, she is not very successful. During the last year, Ace could have earned $75,000 as a tennis instructor at the Atlanta Tennis Club. She would have spent $7,000 on meals, paid rent on a condo in Atlanta at $800 per month, and made car payments of $300 per month. Instead, she remained a pro and won $100,000 in prize money in various tournaments around the country. In doing so, she spent $20,000 on transportation and lodging and paid her coach/trainer $15,000 for the year. She also spent $7,000 on meals, paid rent on her condo in Atlanta at $800 per month, and made the payments on her car of $300 per month. Ace's opportunity cost of playing tennis last year was $. If Ace became a tennis instructor instead of being a professional tennis player, her total income minus her costs (her net income) would be by $

Ace Alexia plays professional tennis for a living, but in spite of her big first serve, she is not very successful. During the last year, Ace could have earned $75,000 as a tennis instructor at the Atlanta Tennis Club. She would have spent $7,000 on meals, paid rent on a condo in Atlanta at $800 per month, and made car payments of $300 per month. Instead, she remained a pro and won $100,000 in prize money in various tournaments around the country. In doing so, she spent $20,000 on transportation and lodging and paid her coach/trainer $15,000 for the year. She also spent $7,000 on meals, paid rent on her condo in Atlanta at $800 per month, and made the payments on her car of $300 per month. Ace's opportunity cost of playing tennis last year was $. If Ace became a tennis instructor instead of being a professional tennis player, her total income minus her costs (her net income) would be by $

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter21: Demand: Consumer Choic

Section: Chapter Questions

Problem 7E

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