Solved

If the Opportunity Cost of Time Is $20 Per Hour

Question 64

Multiple Choice

If the opportunity cost of time is $20 per hour and an individual spends 20 hours in commuting every month,the opportunity cost of his commute is ________.


A) $1 per month
B) $20 per month
C) $200 per month
D) $400 per month

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q59: Spending more time commuting in exchange for

Q60: A cost-benefit calculation that focuses on the

Q61: In choosing between apartments in two different

Q62: What is meant by the term "optimization?"

Q63: Shirley has to choose between a 2-day

Q65: Scenario: Ryan wants to rent an apartment.

Q66: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1359/.jpg" alt=" -Refer to the

Q67: If an individual's opportunity cost of commute

Q68: If the total cost incurred by a

Q69: What is the Principle of Optimization at