A passenger boat operator has one vessel available on Saturday and can run only one of the services shown. The operator will select the service with the highest expected net benefit.
| Service | Expected ticket revenue | Expected fuel and staffing cost |
|---|---|---|
| Seacliff crossing | £18,900 | £7,900 |
| Island excursion | £17,200 | £5,600 |
| Harbour cruise | £15,500 | £4,200 |
Calculate the opportunity cost, measured by expected net benefit, of the operator's decision. Show your working.
77 exam-style questions on OCR GCSE Economics 1.2 The basic economic problem, covering 1.2.1 Scarce resources and unlimited wants, 1.2.2 The economic problem, 1.2.3 Opportunity cost, and 1.2.4 Costs and benefits of economic choices. Each one has a worked solution and a mark scheme showing where the marks go.