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whipped whipped
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7 years ago
a)   Sam pays $600 for 30 days of guitar classes. He attends an hour-long class every day. If, instead of attending class, he works at a part-time job, he would be paid $5 an hour. Or, he could work at a fast-food outlet and earn $9 per hour. Once he has already paid a nonrefundable fee of $600 to enroll in the class, what is his opportunity cost of attending each hour of class?

b)   Suppose workers decide to work more and consume less leisure when their hourly wage rate increases. What could explain this behavior?
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Microeconomics

Microeconomics


Edition: 1st
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SimplemanSimpleman
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