Lucy quits her psychiatrist job that pays $200 an hour and opens lemonade business. At the same time, a local college offered her a $175 an hour job and a corporation offered her a $250 an hour. What is Lucy’s opportunity cost of running her own business?
Lucy quits her psychiatrist job that pays $200 an hour and opens lemonade business. At the same time, a local college offered her a $175 an hour job and a corporation offered her a $250 an hour. What is Lucy’s opportunity cost of running her own business?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section21.2: Two Sides To Every Business Firm
Problem 3ST
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Lucy quits her psychiatrist job that pays $200 an hour and opens lemonade business. At the same time, a local college offered her a $175 an hour job and a corporation offered her a $250 an hour. What is Lucy’s opportunity cost of running her own business?
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