Anna has four choices. She can study, go to the movies, tutor someone or work at the bakery. If she studies, her marginal benefit would be $90. Her marginal explicit cost would be $30. If she goes to the movies, her marginal benefit would be $50 and her marginal explicit cost would be $10. If she tutors someone, her marginal benefit would be $100 and her marginal explicit cost would be $50. If she works at the bakery, her marginal benefit would be $70 and her marginal explicit cost would be $40. What is Anna's opportunity cost of taking the best option?

Anna has four choices. She can study, go to the movies, tutor someone or work at the bakery. If she studies, her marginal benefit would be $90. Her marginal explicit cost would be $30. If she goes to the movies, her marginal benefit would be $50 and her marginal explicit cost would be $10. If she tutors someone, her marginal benefit would be $100 and her marginal explicit cost would be $50. If she works at the bakery, her marginal benefit would be $70 and her marginal explicit cost would be $40. What is Anna's opportunity cost of taking the best option?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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