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Calculating the Opportunity Loss

Josephine makes $100 a day as a flower shop attendant. She takes off two days of work without pay to travel to another city to attend her sister's wedding. The cost of transportation for the trip is $180 round trip. The cost of her hotel stay is $99 per night and she stays for 2 nights. What is the opportunity cost of Josephine's trip to the wedding? Show your calculations.

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Explicit cost includes the actual paid costs. In this case, the ...

Solution Summary

The solution depicts the steps to calculate total opportunity cost in the given case.