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An electrician quits her current job, which pays $25,000 per year. She can take a job with another firm for $20,000 per year or work for herself. The opportunity cost of working for herself is

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter19: Labor And Entrepreneurship: The Human Inputs

Section: Chapter Questions

Problem 14DQ

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Question

I am confused between 20,000 and 25,000

An electrician quits her current job, which pays
$25,000 per year. She can take a job with
another firm for $20,000 per year or work for
herself. The opportunity cost of working for
herself is

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