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

Evaluating Opportunity Cost in Different Employment Scenarios