Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (utilities included) for $3,000 per month. Her total revenue for the year was $100,000. If Christine hadn't worked as a consultant, she would have worked at a real estate firm earning $40,000 a year. Christine's opportunity cost of working as a consultant last year was ________. A) $36,000 B) $15,000 C) $40,000 D) $51,000
Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (utilities included) for $3,000 per month. Her total revenue for the year was $100,000. If Christine hadn't worked as a consultant, she would have worked at a real estate firm earning $40,000 a year. Christine's opportunity cost of working as a consultant last year was ________. A) $36,000 B) $15,000 C) $40,000 D) $51,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Last year Christine worked as a consultant. She hired an administrative assistant for
$15,000 per year and rented office space (utilities included) for $3,000 per month.
Her total revenue for the year was $100,000. If Christine hadn't worked as a
consultant, she would have worked at a real estate firm earning $40,000 a year.
Christine's
A) $36,000
B) $15,000
C) $40,000
D) $51,000
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