Ans) Opportunity cost is the cost of something that must be given up to get something else.
In order to prepare for triathlon, Edison has to give up $11 per hour, which he earned at work.
Option a.
Back to Assignment Attempts: Average: /1 6. Scarcity, opportunity cost, and marginal analysis Edison is training...
6. Scarcity, opportunity cost, and marginal analysis Alyssa is training for a triathlon, a timed race that combines swimming, biking, and running Consider the following sentence: In order to swim for an hour, Alyssa must take time away from work, where she earns $10 per hour. This is in addition to paying a $5 entrance fee for the pool Which basic principle of individual choice do these statements best illustrate? People usually exploit opportunities to make themselves better off O...
6. Scarcity, opportunity cost, and marginal analysis Brian is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: In order to swim for an hour, Brian must take time away from work, where he earns $9 per hour. This is in addition to paying a $4 entrance fee for the pool. Which basic principle of individual choice do these statements best illustrate? People usually exploit opportunities to make themselves better off. Markets...
Crystal is training for a triathlon, a timed race that combines swimming, biking, and running.Consider the following sentence: Crystal has only 20 hours this week that she can devote to training. Each hour she spends swimming is an hour that she can't spend biking or running.Which basic principle of individual choice do these statements best illustrate?People usually exploit opportunities to make themselves better off.People face trade-offs.Crystal can use time most efficiently by spending the same amounts of time on swimming,...
6. Scarcity, opportunity cost, and marginal analysis Aa Aa Latasha ls training for a triathlon, a timed race that combines swimming, cycling, and running. Consider the following statement: Because her pool sessions are helping her swim much reduce by one hour per in the swimming pool; however, her husband says that she should stop doing any cycling and running and spend all 20 hours per week in the pool. faster, Latasha plans to week the time she spends training on...