You Can Either Spend Your Summer Working for $10,800 or Go

question 139

Multiple Choice

You can either spend your summer working for $10,800 or go in a European vacation.If you work,your expenses will be about $1,500.If you go to Europe,the airfare,hotel,food and miscellaneous expenses will total about $10,000.What's your opportunity cost of visiting Europe?

• A) $19,300
• B) $20,800
• C) $12,300
• D) $8,500
• E) $22,300

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Definitions:

Comparative Reasoning

A method of thinking where different objects, ideas, or situations are examined in relation to each other to identify similarities and differences.

Ideological Reasoning

Making conclusions or judgments based on a set of beliefs or ideologies.

Empirical Reasoning

Reasoning based on observed and measurable evidence, typically through experiments or experience, rather than theory or pure logic.

Cause-And-Effect

A relationship where one event (the cause) makes another event happen (the effect).