You Lose $20 from Your Wallet and Decide to Miss

question 199

Multiple Choice

You lose $20 from your wallet and decide to miss an hour from work in order to search for it. What would an economist conclude from your behaviour?

• A) You estimate the expected cost of searching for one hour to be greater than $20.
• B) In your estimation, the expected value of searching for the lost $20 for an hour is less than your hourly wage.
• C) You must earn more than $20 per hour.
• D) In your estimation, the expected value of searching for the lost $20 for an hour exceeds your hourly wage.

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