Economic Questions

6) Which of the following are opportunity costs of attending school?
(1) school fees
(2) income forgone
(3) poor examination results
(4) expenditure on dinners

A. (1) and (2) only
B. (1) and (3) only
C. (2) and (4) only
D. (3) and (4) only

7) Mr. Lam earns $8 per hour. One day, instead of going to work he considers whether to spend two hours at a cinema or at a concert. The prices of a movie ticket and a concert ticket are $20 and $30, respectively.