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Mark has to work on friday night. He has a 6 hour shift and makes $15 per hour. His friends however invite to go to dinner ($20) and see a good concert ($30). What is the total economic cost if Mark decides to take the night off and go with his friends?

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Answer:

The cost of taking a night off is $140.

Explanation:

Giving the following information:

He has a 6 hour shift and makes $15 per hour. His friends however invite to go to dinner ($20) and see a good concert ($30).

The economic cost incorporates the opportunity cost of not working.

Economic cost= (20 + 30) + (6*15)

Economic cost= $140

The cost of taking a night off is $140.

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