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economics

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Mary earns $100/day at a flower shop. She will take 2 days off without pay to attend an out of town wedding. Transportation will cost $180 round trip. Hotel $99/day for 2 nights. What is the opprotunity cost?

  • economics -

    If she had worked those two days, she would make +$200

    Instead, she spends $180 + $198 = $378

    The total opportunity cost is 378 + 200 = 578. This is how much money she'll lose by going on the trip instead of working

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