Business: Understanding opportunity cost you work as an assistant coach on the university basketball team and earn $15 per hour. one day, you decide to skip the hour-long practice and, instead, go to the local carnival, which has an admission fee of $9. the total cost (valued in dollars) of skipping practice and going to the carnival (including the opportunity cost of time) is . a.$6 b.$9 c.$15 d.$24

Understanding opportunity cost you work as an assistant

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04.01.2022

D.$24

Explanation:

Opportunity cost: The opportunity cost is that cost which gives the best alternative option

The computation of the total cost is shown below:

= Earning per hour + admission fee

= $15 per hour + $9

= $24

Since the question is asking for the total cost, so we consider both the costs i.e earning per hour and admission fee.

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