You are trying to decide whether to take a vacation most of, Ask an Expert

Economics

You are trying to decide whether to take a vacation. Most of the costs of the vacation (airfare, hotel, and foregone wages) are gauged in dollars, but the benefits of the vacation are psychological.

How can you compare the benefits to the costs?

1. Decide the benefits of what you give up by going on the vacation and compare them to the benefits of going on vacation.

2. Compare the airfare and hotel costs of the vacation against the foregone wages.

3. Get a degree in psychology.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91226539

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