Question

You work as an assistant coach on the university swim team and earn $15 per hour. One day, you decide to skip the hour long practice and go to thecounty fair instead, which has an admission fee of $9.The total cost (valued in dollars) of skipping practice and going to the fair (including the opportunity cost of time) is

Answer 1

From the given question:

In this instance, the actual cost of going to the movie is $9 while the foregone alternative is the $15 you would have earned as a coach

Therefore:

`\begin{gathered} \text{Total cost=15+9} \\ =24 \end{gathered}`

Hence, the value of the total cost is $24.