Jack Has a Ticket to See Daughtry for Which He

question 128

Multiple Choice

Jack has a ticket to see Daughtry for which he paid $30 yesterday. He takes an unpaid day off from work to get ready for the concert. When he arrives at the concert, five different people offer him $70 for his ticket. Jack decides to keep his ticket. At the time he makes this decision, his opportunity cost of seeing Daughtry is:

• A) $30 plus his forgone earnings.
• B) $40.
• C) $70.
• D) $70 plus his forgone earnings.

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Definitions:

Polygenically Determined

Traits or characteristics that result from the combined effect of multiple genes rather than a single gene.

Phenotype

The set of observable characteristics of an organism resulting from the interaction of its genotype with the environment.

Double Helix

The structure formed by double-stranded molecules of nucleic acids such as DNA, characterized by two helical chains coiled around the same axis.

Estrogen

A group of steroid hormones which promote the development and maintenance of female characteristics of the body.