Question

Suppose you play a round of golf costing $75. The golf takes four hours to play....

Suppose you play a round of golf costing $75. The golf takes four hours to play. If you were not playing golf you could be working and earning $40 per hour. The opportunity cost of your golf game is:

Homework Answers

Answer #1

The most effective strategy for giving students appropriate practice applying motor skills safely is having $235

Explanation:

Opportunity cost= explicit +implicit costs

                           =cost of playing golf + working

                            =$75+$160

                           =$235

Please vote thumbs up

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. Suppose you are trying to decide whether to study for your economics course or play...
1. Suppose you are trying to decide whether to study for your economics course or play basketball. Assume that you can only choose one activity. Studying carries a mental cost of $4 per hour. you gain $10 for the first hour studying, $8 for the second hour, 5$ for the third hour, and$2 for the fourth hour. A) if you choose to study, how many hours should you optimally study?(show work) Playing basketball carries no mental cost. You gain$4 for...
Suppose you are playing a game of chance. You pay $50 to play by rolling a...
Suppose you are playing a game of chance. You pay $50 to play by rolling a fair die one time, if you roll a 1 you will receive $300, if you roll a 3 or a 6 you will receive $150, if you roll a 2, 4 or 5 you will receive nothing.                                                         (6) Find your (the player’s) expected value for this game of chance. Based on this expected value, do you think this would be...
Lorena likes to play golf. The number of times per year that she plays depends on...
Lorena likes to play golf. The number of times per year that she plays depends on both the price of playing a round of golf as well as Lorena’s income and the cost of other types of entertainment—in particular, how much it costs to go see a movie instead of playing golf. The three demand schedules in the table below show how many rounds of golf per year Lorena will demand at each price under three different scenarios. In scenario...
Isabella is a student and also works part-time as a waitress earning $10 per hour. Isabella...
Isabella is a student and also works part-time as a waitress earning $10 per hour. Isabella was invited to attend a play on Sunday afternoon. Attending the play will take 2 hours, and a ticket costs $60. If Isabella were to spend the time studying for an exam, she will receive an HD instead of a D. She values a HD over a D at $40. What is Isabella’s opportunity cost (OC) of attending the play? Explain your answer.
3. Suppose that you are planning a Valentine’s Day party where you will serve cake (C)...
3. Suppose that you are planning a Valentine’s Day party where you will serve cake (C) and brownies (B). You have four hours to prepare for the party. Suppose that in one hour you can produce two cakes or eight brownies. a. Draw your production possibilities curve for four hours of time. Put brownies on the vertical axis. Why is your PPC linear? b. What is the opportunity cost of one cake? c. On a separate graph, show the effect...
Suppose that you get the opportunity to play a coin flipping game where if your first...
Suppose that you get the opportunity to play a coin flipping game where if your first flip is a “head”, then you get to flip five more times; otherwise you only get to flip two more times. Assuming that the coin is fair and that each flip is independent, what is the expected total number of “heads”?
Isabella is a student and also works part-time as a waitress earning $10 per hour. Isabella...
Isabella is a student and also works part-time as a waitress earning $10 per hour. Isabella was invited to attend a play on Sunday afternoon. Attending the play will take 2 hours, and a ticket costs $60. If Isabella were to spend the time studying for an exam, she will receive an HD instead of a D. She values a HD over a D at $40. What is Isabella’s opportunity cost (OC) of attending the play? Explain your answer. Your...
Isabella is a student and also works part-time as a waitress earning $10 per hour. Isabella...
Isabella is a student and also works part-time as a waitress earning $10 per hour. Isabella was invited to attend a play on Sunday afternoon. Attending the play will take 2 hours, and a ticket costs $60. If Isabella were to spend the time studying for an exam, she will receive an HD instead of a D. She values a HD over a D at $40. What is Isabella’s opportunity cost (OC) of attending the play? Explain your answer. Your...
Suppose you’re bowling with friends. You’ve already played one game and are trying to decide whether...
Suppose you’re bowling with friends. You’ve already played one game and are trying to decide whether to play another. Each game costs $6 per person, plus a one-time rental fee of $6 for the bowling shoes. It would take another hour to play the next game, which would make you late for work. Missing an hour of work would mean that you would lose pay at a rate of $14 per hour. Instructions: Round your answer to the nearest whole...
Activity-Based Product Costing Roberts Company produces two weed eaters: basic and advanced. The company has four...
Activity-Based Product Costing Roberts Company produces two weed eaters: basic and advanced. The company has four activities: machining, engineering, receiving, and inspection. Information on these activities and their drivers is given below. Basic      Advanced      Total Units produced         80,000         240,000         — Prime costs         $6,240,000         $24,960,000         $31,200,000 Machine hours         80,000         400,000         480,000 Engineering hours         500         4,500         5,000 Receiving orders         200         600         800 Inspection hours        ...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT