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13 March, 05:23

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 the movie theater instead, which has an admission fee of $9. The total cost (valued in dollars) of skipping practice and going to the movies (including the opportunity cost of time) is

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  1. 13 March, 05:52
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    Total cost of skipping practice and going to the movies = $24

    Explanation:

    Total cost of going to movie and skipping practice, will be inclusive of opportunity cost of earning from swimming lessons.

    Here coach earns $15 per hour

    Opportunity cost = $15 per hour for hours forgiven due to movie.

    Real cost = $9 for movie entry.

    The total cost of skipping practice and going to the movies = $15 + $9 = $24

    Since its hour long practice, that has to be skipped, assumed the practice session of an hour is missed, in case it is more than an hour then $15 X number of hours + $9 entry fee of movie.

    Since its hour long practice, total cost of skipping practice and going to the movies = $15 + $9 = $24
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