document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1169071>Question 1169071</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Amber would like to go on the field trip this Saturday. However, she was scheduled to<BR>\n" );
document.write( "work 10 hours and she makes $8.50 an hour. Additionally, the field trip activity fee was<BR>\n" );
document.write( "$30. What is her opportunity cost to go on the field trip?\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #851452 by </B><A HREF=/tutors/aboutme.mpl?userid=CPhill><B>CPhill(1959)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=CPhill><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=CPhill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=851452\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> To determine Amber's opportunity cost of going on the field trip, we need to consider the value of the next best alternative she is giving up. In this case, that involves both the income she would have earned and the direct cost of the field trip.\r<BR>\n" );
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document.write( "Here's a breakdown:\r<BR>\n" );
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document.write( "* **Income Foregone (Lost Wages):**<BR>\n" );
document.write( "    * Hours she was scheduled to work: 10 hours<BR>\n" );
document.write( "    * Hourly wage: $8.50 per hour<BR>\n" );
document.write( "    * Total income she would have earned: 10 hours * $8.50/hour = $85.00\r<BR>\n" );
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document.write( "* **Direct Cost of the Field Trip:**<BR>\n" );
document.write( "    * Activity fee: $30.00\r<BR>\n" );
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document.write( "The opportunity cost is the sum of what she is giving up to go on the field trip. This includes the money she won't earn by not working and the money she has to spend on the field trip itself.\r<BR>\n" );
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document.write( "Opportunity Cost = Foregone Income + Direct Cost<BR>\n" );
document.write( "Opportunity Cost = $85.00 + $30.00<BR>\n" );
document.write( "Opportunity Cost = $115.00\r<BR>\n" );
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document.write( "Therefore, Amber's opportunity cost to go on the field trip is **$115.00**. This represents the total value of the next best alternatives she is sacrificing to attend the field trip. </SPAN>\n" );
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