Solved: Opportunity cost of josephines trip to the wedding, Microeconomics

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Opportunity cost of josephines trip to the wedding

Problem: Josephine makes $100 a day as a flower shop attendant. She takes off two days of work without pay to travel to another city to attend her sister's wedding. The cost of transportation for the trip is $180 round trip. The cost of her hotel stay is $99 per night and she stays for 2 nights. What is the opportunity cost of Josephine's trip to the wedding? Show your calculations.

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Solution Preview :

Prepared by a verified Expert

Microeconomics: Opportunity cost of josephines trip to the wedding

Reference No:- TGS01740368

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Solution Preview :

Prepared by a verified Expert

Microeconomics: Opportunity cost of josephines trip to the wedding

Reference No:- TGS01740368

Recent Questions Asked Microeconomics

Q : Exhibiting large economies of scale

Q : Expected payoff of a hard worker

Q : What is the advertising elasticity of demand

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Q : Estimate the cobb-douglas production function

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