Phyllis wants to buy two tickets to a concert. Tickets cost $15 each, and she expects to wait 30 minutes in line to buy them. If her wage is $16 per hour, the economic cost of buying the two tickets is a $15 b $30 C $38 d $46

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter20: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 2CQ
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Phyllis wants to buy two tickets to a concert. Tickets cost
$15 each, and she expects to wait 30 minutes in line to
buy them. If her wage is $16 per hour, the economic cost
of buying the two tickets is
a $15
b $30
c $38
d $46
Transcribed Image Text:Phyllis wants to buy two tickets to a concert. Tickets cost $15 each, and she expects to wait 30 minutes in line to buy them. If her wage is $16 per hour, the economic cost of buying the two tickets is a $15 b $30 c $38 d $46
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