A TV Actor Used to Be a Teacher

question 169

Multiple Choice

A TV actor used to be a teacher.Aside from the salary, he likes both jobs equally well.If he can earn $50, 000 as a teacher and $300, 000 as an actor, what are his economic rent and opportunity costs as an actor?

• A)Economic rent is $250, 000; opportunity costs are $50, 000.
• B)Economic rent is $50, 000; opportunity costs are $250, 000.
• C)Economic rent is $50, 000; opportunity costs are $300, 000.
• D)Economic rent is $300, 000; opportunity costs are $50, 000.
• E)Economic rent is $300, 000; opportunity costs are $350, 000.

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Definitions:

Expectancy Model

A psychological theory stating that an individual's motivation is related to their expectation of achieving a desired performance level and the value of the associated reward.

Communication Competency

The ability to effectively convey, receive, and interpret messages and information through verbal and non-verbal means.

Thanks Program

A structured initiative or plan designed to express gratitude or appreciation within an organization or community.

Top Management

The highest level of managers within an organization, responsible for setting strategic goals and making critical decisions.