Q: A consultant who earns $100 per hour takes four hours off work to go to the movies. The out-of-pocket cost for the cab and the movie ticket are $12. The total cost of the movie to the consultant is a. $12 b. $412 c. $400 d. $388 e. $112
A: the total cost in economics is actual cost + opportunity cost so 12 + 400 b. 412
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