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4 (Opportunity Cost) You can either spend Spring Break working at home for $80 per day for five days or go to Florida for the week. If you stay home, your expenses will total about $100. If you go to Florida, the airfare, hotel, food and vary) miscellaneous expenses will total about $700. What\'s your opportunity cost of going to Florida? (Hint: Answers may ials Solution Opportunity cost = Income forgone by not working at home for five days Income forgone = 80 x 5 - 100 = $300 Opportunity cost = $ 300.

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4 (Opportunity Cost) You can either spend Spring Break working at home for $80 per day for five days or go to Florida for the week. If you stay home, your expenses will total about $100. If you go to Florida, the airfare, hotel, food and vary) miscellaneous expenses will total about $700. What's your opportunity cost of going to Florida? (Hint: Answers may ials Solution Opportunity cost = Income forgone by not working at home for five days Income forgone = 80 x 5 - 100 = $300 Opportunity cost = $ 300

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