Question: Evaluating opportunity costs Alyssa and Tim need to decide which one of them will take time off from work to complete the rather urgent task
Evaluating opportunity costs
Alyssa and Tim need to decide which one of them will take time off from work to complete the rather urgent task of changing the brakes on their car. Alyssa is pretty good at car repairs; she can change the brakes in hour. Tim is somewhat slow; it takes him hours to change the brakes. Alyssa earns $ per hour as a lawyer, while Tim earns $ per hour as a barber.
Keeping in mind that either Alyssa or Tim must take time off from work to change the brakes, who has the lowest opportunity cost of completing the task?
Alyssa and Tim face equal opportunity costs
Tim
Alyssa
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