Multiple Choice
Carl is considering attending a concert with a ticket price of $35.He estimates that the cost of driving to the concert and parking there will total an additional $20.In order to attend the concert,Carl will have to take time off from his part-time job and forgo studying for an exam scheduled for the next morning.He estimates that he will lose 3 hours at work,at a wage of $6 per hour,plus 2 hours of study time.Carl's opportunity cost of attending the concert equals
A) $73 plus the value of the higher exam grade he could earn by studying longer
B) $73
C) $35 plus the value of the higher exam grade he could earn by studying longer
D) $35
E) $55 plus the value of the higher exam grade he could earn by studying longer
Correct Answer:
Verified
Correct Answer:
Verified
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