On an afternoon that a class meets, you could alternatively study for an exam that will take place in another class the next morning, go to a movie with a friend, or, most desirable to you at present, take a nap. The opportunity cost of attending the
afternoon class is
A) forgoing the nap.
B) missing seeing the movie with your friend.
C) giving up the time to study for the next morning's exam.
D) being unable to engage in all three of the above activities.
Answer: A
Economics
You might also like to view...
The income and expenditure approaches to calculating GDP will produce the same result because for every dollars worth of output that is produced a dollars worth of income will be generated as income for the owners of the factors of production used to produce the output
a. True b. False
Economics
Which of the following industries is perfectly competitive?
A. Heavy duty trucks. B. Cell phone service. C. Fast-food restaurants. D. Wholesale fresh flowers.
Economics