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Who has a greater opportunity cost of enjoying leisure—a janitor or a surgeon? a. the janitor because his wage is lower b. the surgeon because his wage is higher c. whoever has the greater income effect d. whoever has the greater substitution effect

Chapter 18, Problem 4

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QUESTION:

Who has a greater opportunity cost of enjoying leisure—a janitor or a surgeon?

a. the janitor because his wage is lower

b. the surgeon because his wage is higher

c. whoever has the greater income effect

d. whoever has the greater substitution effect

Questions & Answers

QUESTION:

Who has a greater opportunity cost of enjoying leisure—a janitor or a surgeon?

a. the janitor because his wage is lower

b. the surgeon because his wage is higher

c. whoever has the greater income effect

d. whoever has the greater substitution effect

ANSWER:

Step 1 of 2

Who has a greater opportunity cost of enjoying leisure—a janitor or a surgeon?

a. the janitor because his wage is lower

b. the surgeon because his wage is higher

c. whoever has the greater income effect

d. whoever has the greater substitution effect

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