Your neighbors have offered to pay you to look after their dog while they are on vacation. it will take you one hour per day to feed, walk, and care for the dog, which you can do either before or after you go to work. your regular job pays $10 per hour, and you can work up to eight hours per day. the smallest amount of money you would accept to look after your neighbor's dog each day is equal to:
C the value you place on one hour of leisure
Here are the options to this question:
OA $15, because overtime wages are generally 1.5 times your regular wage when you work more than eight hours a day OB. $10, because that is your opportunity cost of one hour of work OC the value you place on one hour of leisure OD. zero, because your regular job is not available for more than eight hours per day
Caring for the dog won't interfere with my job as I can care for the dog either before or after work.
What I would be sacrificing to care for the dog would be the time I would have spent resting or doing leisure activities. So the least amount I should charge is the value i place on one hour of leisure.
I hope my answer helps you