An unemployed individual decides to spend the day fishing. The opportunity cost of fishing is equal to
A) the cost of bait and any other monetary expenses.
B) zero, because the person doesnʹt have a job.
C) the cost of bait, any other monetary expenses, and the value of the individualʹs wages while he was working.
D) the cost of bait, any other monetary expenses, and the value of the best alternative use of the individualʹs time.
Correct Answer:
Verified
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