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An unemployed individual decides to spend the day fishing. The opportunity cost of fishing is equal to

unicorngirl13

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An unemployed individual decides to spend the day fishing. The opportunity cost of fishing is equal to

An unemployed individual decides to spend the day fishing. The opportunity cost of fishing is equal to

▸ the cost of bait and any other monetary expenses.

▸ the cost of bait, any other monetary expenses, and the value of the best alternative use of the individual's time.

▸ zero, because the person doesn't have a job.

▸ the cost of bait, any other monetary expenses, and the value of the individual's wages while he was working.

Textbook

Macroeconomics: Principles, Applications and Tools

Edition: 7^th

Authors: O'Sullivan, Sheffrin, Perez

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mace

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More solutions for this book are available here

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unicorngirl13 Author

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Good timing, thanks!

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