SOLUTION: Peter works $12 per hour, and has a 25 hour work week. If he decides to go on a trip with some friends (cost of the trip is $350.)instead of reporting to work, what is the opportun

Question 1184795: Peter works $12 per hour, and has a 25 hour work week. If he decides to go on a trip with some friends (cost of the trip is $350.)instead of reporting to work, what is the opportunity cost of peter’s decision
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Peter works $12 per hour, and has a 25 hour work week.
If he decides to go on a trip with some friends (cost of the trip is $350.)instead of reporting to work, what is the opportunity cost of peter’s decision
:
Assuming he is gone a week on his trip, the cost of his decision is
25(12) + 350 = $650, the wages he lost, plus the cost of the trip
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