Question

Barinda is considering running for student government. However, she knows she will have to work about 10 hours fewer per week if elected, and she makes $ 7 an hour. The campaign will also cost her about $100 in campaign buttons and posters. What is her opportunity cost for serving on student government if elected if she actively serves for 30 weeks?

Answer 1

Answer: $2,200

Explanation:

The opportunity cost is the sum of the amount she spent on the election and the amount she would lose in total from serving on the student government.

Amount she would lose in wages

= 7 * 10 hours * 30 weeks

= $2,100

Opportunity cost = 2,100 + 100

= $2,200