Scenario 1-2 Suppose That You Have a Choice Between Going to the to the Movies

question 12

Short Answer

Scenario 1-2
Suppose that you have a choice between going to the movies with a friend for two hours or working at your job. If you go to the movies, you will spend $7 on a ticket and $5 on popcorn. If you choose to work, you will earn $10 an hour.
-Refer to Scenario 1-2. What is your opportunity cost of going to the movies?

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Definitions:

Simplify

The process of altering an expression into its most basic form or version, usually by combining like terms and applying mathematical operations.

Expression

A combination of symbols that represents a quantity or a relationship between quantities in mathematics or computer programming.

Rationalize

The process of modifying an expression to eliminate radicals from the denominator or complex numbers from the denominator of a fraction.

Denominator

The bottom part of a fraction that tells into how many equal parts the whole is divided.