Trent decides to spend an hour playing basketball rather than studying. His opportunity cost is:
a. nothing because he enjoys playing basketball more than studying

b. the foregone benefit to his grades from studying for an hour.
c. the increase in skill he obtains from playing basketball for that hour.
d. nothing because he had a free pass into the sports complex to play basketball.

b

Economics

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Which of the following types of variables cannot be included in a fixed effects model?

A. Dummy variable B. Discrete dependent variable C. Time-varying independent variable D. Time-constant independent variable

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