HANDOUT 3 OPPORTUNITY COST: Examples A. Wanda paid $150 for a fully refundable plane ticket to San Francisco for spring break. A week before the flight, her friend Natasha invites her to come stay with her in San Diego instead. Let's assume that San Diego is Wanda's only other alternative. A train ticket to San Diego costs $50 and it will be her only expense for the trip. Wanda knows that she will get $250 worth of benefits (free place to stay, free meals, no need to pay for an Uber or taxi to get around, etc.). What is Wanda's opportunity cost of going to San Francisco?

HANDOUT 3 OPPORTUNITY COST: Examples A. Wanda paid $150 for a fully refundable plane ticket to San Francisco for spring break. A week before the flight, her friend Natasha invites her to come stay with her in San Diego instead. Let's assume that San Diego is Wanda's only other alternative. A train ticket to San Diego costs $50 and it will be her only expense for the trip. Wanda knows that she will get $250 worth of benefits (free place to stay, free meals, no need to pay for an Uber or taxi to get around, etc.). What is Wanda's opportunity cost of going to San Francisco?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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