HANDOUT 3 OPPORTUNITY COST: Examples A. Wanda paid $150 for a fully refundable plane ticket to San Francisco for spring break. A week before the flight, her friend Natasha invites her to come stay with her in San Diego instead. Let's assume that San Diego is Wanda's only other alternative. A train ticket to San Diego costs $50 and it will be her only expense for the trip. Wanda knows that she will get $250 worth of benefits (free place to stay, free meals, no need to pay for an Uber or taxi to get around, etc.). What is Wanda's opportunity cost of going to San Francisco?

HANDOUT 3 OPPORTUNITY COST: Examples A. Wanda paid $150 for a fully refundable plane ticket to San Francisco for spring break. A week before the flight, her friend Natasha invites her to come stay with her in San Diego instead. Let's assume that San Diego is Wanda's only other alternative. A train ticket to San Diego costs $50 and it will be her only expense for the trip. Wanda knows that she will get $250 worth of benefits (free place to stay, free meals, no need to pay for an Uber or taxi to get around, etc.). What is Wanda's opportunity cost of going to San Francisco?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 13CTQ: Think back to a purchase that you made recently. How would you describe your thinking before you...

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