Explain why it is more likely that the opportunity cost of attending a 7:00 a.m. class is forgone sleep but that this is not reasonably likely to be the case for a class that meets at 12:00 noon
What will be an ideal response?
At 7:00 a.m. there might not be too many other opportunity costs for your time. Forgone sleep might reasonably be an opportunity cost of your time. However, at 12:00 noon while it is possible that forgone sleep is your opportunity cost it is not likely since there are probably other things of higher value that you have given up by then unless you are a very late sleeper.
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Opportunity cost is the best alternative sacrificed for a chosen alternative
a. True b. False Indicate whether the statement is true or false
The crowding-out effect indicates that budget deficits
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