Homework Answers
Answer
B)50
Since the opportunity cost is income which is forgone due to accepting proposal and in this case proposal is accepting bike as a gift from friend.
If we accept bike we have to forgo part-time job for 2 hours which will cost $20 x 2 hours = $40
Further since we've to pay for Uber also that will cost $10.
Therefore total opportunity cost will be $40+$10=$50.
Note :- since opportunity cost is income which is forgone therefore conceptually only $40 is included because $10 is cost not opportunity cost(income forgone) . So conceptually this question is not correct.
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