After school you can mow lawns and get 35$
In order to mow the lawn, you must buy 15$ in gas.
You could instead babysit your niece and get paid 30$
However, you must buy a 9$ pizza during the night while babysitting.
Your willingness to pay to play video games is 18$.
(Assume no other costs or benefits exist)
a. What would be the opportunity cost of playing video games after
school instead of working?
b. What is the economic profit of mowing the lawn?

Question

07-10-2022
Social Studies

Answered

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After school you can mow lawns and get 35$
In order to mow the lawn, you must buy 15$ in gas.
You could instead babysit your niece and get paid 30$
However, you must buy a 9$ pizza during the night while babysitting.
Your willingness to pay to play video games is 18$.
(Assume no other costs or benefits exist)
a. What would be the opportunity cost of playing video games after
school instead of working?
b. What is the economic profit of mowing the lawn?

Sagot :

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