[Answer] You were planning to spend Saturday working at your part-time job but a friend asks you to go skiing. What is the true cost of going skiing? Now suppose you had been planning to spend the say studying at the library. What is the cost of going skiing in that case?

Answer: Instead of working the cost of skiing is the amount of money you would’ve made at work plus the original cost of skiing. Instead of studying the cost of skiing is the opportunity cost of not studying plus the original cost of skiing.
You were planning to spend Saturday working at your part-time job but a friend asks you to go skiing. What is the true cost of going s…

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