Suppose you are considering going to the movies, and you place a $12 value on your anticipated enjoyment of the movie. The ticket price is $6 and you would be giving up two hours of work, where you earn $5 per hour. You would go to se O work; the opportunity cost of the movies exceeds the expected benefit. the movies; your incentive is the $6 excess expected benefit. the movies; your enjoyment will exceed the lost wages by $2. the movies; the benefit of $18 exceeds the lost wages.

Suppose you are considering going to the movies, and you place a $12 value on your anticipated enjoyment of the movie. The ticket price is $6 and you would be giving up two hours of work, where you earn $5 per hour. You would go to se O work; the opportunity cost of the movies exceeds the expected benefit. the movies; your incentive is the $6 excess expected benefit. the movies; your enjoyment will exceed the lost wages by $2. the movies; the benefit of $18 exceeds the lost wages.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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