A student works part-time and currently earns a wage of €30 per hour. Suppose the student receives a promotion, and their new wage is €35 per hour. In the same week, they also receive a one-time scholarship payment of €100. What is the new opportunity cost for the student of taking one additional hour of free time instead of working?

Opportunity Cost of Study Time

An individual is offered a promotion that increases their hourly wage. As a result, the opportunity cost of taking an hour of leisure has decreased.

The 'Price' of a Break

An individual can choose between different combinations of daily free time and consumption, as shown in the table below. Their potential daily income is based on a constant hourly wage for a 24-hour day.

Based on the data, what is the opportunity cost for this individual of taking one additional hour of free time?

Variable Opportunity Cost

An employee earns €20 per hour for the first 8 hours of work per day and €30 per hour for any additional hours worked. If this employee has already worked 9 hours today, what is the opportunity cost of their next hour of free time?

Comparing Opportunity Costs in Different Job Types

Match each scenario describing an individual's work situation with the correct monetary opportunity cost of one additional hour of their free time.

Evaluating Opportunity Cost in Different Employment Scenarios