Mike Is a College Student Who Works Part Time and Earns

question 28

Essay

Mike is a college student who works part time and earns $100 per week. He spends his entire income on two goods: pepperoni pizzas and bottles of soda. The price of a pepperoni pizza is $10 and the price of a bottle of soda is $2. What is the opportunity cost of a pepperoni pizza? What is the opportunity cost of a bottle of soda?

---

Definitions:

Physical Attractiveness

The degree to which a person's physical traits are considered aesthetically pleasing or beautiful, often influencing social perception and interaction.

Status and Resources

Refers to the varied position individuals or groups hold within a societal hierarchy and the material or non-material assets that they have access to.

Self-Actualization

The achievement of realizing one's own abilities and potentials, often seen as a universal motivation or need.

Abraham Maslow

An American psychologist known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.