Montana Decides to Spend Three Hours Working Overtime Rather Than

question 44

Multiple Choice

Montana decides to spend three hours working overtime rather than watching Netflix with her friends. She earns $15 an hour. What is her opportunity cost of working?

• A) the $45 she earns working
• B) the $45 minus the enjoyment she would have received from watching Netflix
• C) the enjoyment she would have received had she watched Netflix
• D) nothing, because she would have received less than $45 of enjoyment from Netflix

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Definitions:

Price Matching

A policy by which a retailer promises to match a competitor’s lower price on an identical item to attract or retain customers.

Human Brain

The human brain is the organ located in the head of humans that controls thought, memory, emotion, touch, motor skills, vision, breathing, temperature, hunger, and every process that regulates our body.

Behavioral Economists

Professionals who study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Prone To Errors

Characterized by a higher likelihood or tendency to make mistakes or inaccuracies.