Question 4
0.5 pts
Jennifer has a job that pays a wage rate of $10 per hour. The night before an economics exam, Jennifer has set aside four hours to study for the exam, estimating that for each hour spent studying, her grade will rise by 5 points. That night, she gets a call from her employer to come to work for a special wage rate of $15 per hour. Jennifer decides to work for three hours and earn an extra $45.00. The next day she takes the test and gets a grade of 75. The opportunity cost for her work is
the entire four hours she set aside for studying
the $45.00 she earned
the three hours she did not study
the 15 extra points she estimates that she could have earned on the exam if she had studied the extra three hours