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:

Discrepancy

A difference or inconsistency between two or more elements, such as expectations and reality.

Longitudinal Research

A research design that involves repeated observations of the same variables (e.g., individuals) over short or long periods of time.

Marital Relationships

Marital relationships refer to the bond and legal partnership between individuals in marriage, encompassing aspects of love, support, and commitment.

Relationship Ratings

A way of evaluating personal connections or interactions between individuals, often used in psychological studies to measure satisfaction or quality of relationships.