If Tom Spends 4 Hours a Day on Facebook,and the Minimum

question 84

Essay

If Tom spends 4 hours a day on Facebook,and the minimum wage in his country is $7 per hour.
a)What is his opportunity cost of spending time on Facebook?
b)Given that spending time on Facebook has an opportunity cost,does this analysis suggest that Tom should work rather than spend his time on social networking?

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Definitions:

Feeble Person

refers to an individual with physical or mental weakness, often due to age or illness.

Nursing Home

A residential facility offering specialized care and assistance for elderly or disabled individuals.

Young-old

A term used to describe individuals typically in their 60s and 70s who are considered to be in the early stage of old age but are often healthy and active.

Fastest-growing Age Group

The demographic segment experiencing the most rapid increase in population size over a given period.