Question 8 Brendan K. decides to spend two hours playing basketball rather than attending his classés. His opportunity cost of playing basketball is O nothing, since he valued playing basketball more than class attendance. O the $24 he could have earned if he had worked at his job for those two hours. the value of his basketball time less the value of attending class. the value of the knowledge he would have received had he attended class. Question D.
Question 8 Brendan K. decides to spend two hours playing basketball rather than attending his classés. His opportunity cost of playing basketball is O nothing, since he valued playing basketball more than class attendance. O the $24 he could have earned if he had worked at his job for those two hours. the value of his basketball time less the value of attending class. the value of the knowledge he would have received had he attended class. Question D.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
8
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Question 8
Brendan K. decides to spend two hours playing basketball rather than attending his classés. His
opportunity cost of playing basketball is
nothing, since he valued playing basketball more than class attendance.
the $24 he could have earned if he had worked at his job for those two hours.
the value of his basketball time less the value of attending class.
O the value of the knowledge he would have received had he attended class.
Question 0
Expert Solution
Step 1
Quantity of labour can be influenced by two factors which are number of workers and other factor is number of hours for which people work. Number of available workers is determined by: 1) Size and structure of population If population is more there would be more quantity of skilled as well as unskilled workers. If more people are of working age, more workers would be there but if there are more non working age people such as children and elderly then there would be reduction in number of workers.
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