Bob wants to go on vacation with a friend but he does not have any paid time off from his job. The vacation will last on
Posted: Wed Jul 06, 2022 6:19 am
Bob wants to go on vacation with a friend but he does not have any paid time off from his job. The vacation will last one week and it will cost him $800. Each week at work Bob earns $1,000. The explicit cost of Bob taking the vacation is $ 1800 The implicit cost of Bob taking the vacation is $0 The opportunity cost of Bob taking the vacation is $ 1800