Bill Hogan Graduates from College with a Choice of Playing

question 151

Multiple Choice

Bill Hogan graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later, even though he could continue to play football at $2 million a year, he quits football to make movies for $3 million a year. His opportunity cost of playing football at graduation was ________. and eight years later the opportunity cost of making movies was ________.

• A)$50,000; $2 million
• B)$2 million; $3 million
• C)$50,000; $50,000
• D)$2 million; $2 million

---

Definitions:

Competing

Involves entities or individuals striving against each other to achieve a goal that cannot be shared.

Everyday Low Pricing

A pricing strategy where companies consistently offer products at low prices rather than relying on sales or discounts, aiming to attract price-sensitive consumers.

Discounted

A reduction applied to the usual price of a product or service.

Sale Products

Items or services offered to the public at a reduced price for a limited time.