Bill Bonecrusher Graduates from College with a Choice of Playing

question 345

Multiple Choice

Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year. He decides to play football, but eight years later he quits football to make movies for $3 million a year. His opportunity cost at graduation was ________ and eight years later was ________.

• A) $50,000; $2 million
• B) $2 million; $2 million
• C) $2 million; $3 million
• D) $50,000; $50,000

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Definitions:

Geographical Regions

Large areas of land distinguished by geographical features, political boundaries, or cultural characteristics.

Psychical Regions

A concept in psychology referring to different areas or aspects of the mind and its functions.

Cultural Regions

Geographically distinct areas characterized by a unique set of cultural practices, beliefs, languages, and social norms.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and distribution of goods determined mainly by competition in a free market.