Exhibit 2-2

-According to Exhibit 2-2, Maria's opportunity cost of doing a load of laundry is

Question

Exhibit 2-2
 
-According to Exhibit 2-2, Maria's opportunity cost of doing a load of laundry is

Quizplus · Accepted Answer

The opportunity cost is the value of the best alternative forgone. In this case, Maria can either do a load of laundry (which takes 2/3 of a page) or read for 4 pages. Therefore, Maria's opportunity cost of doing a load of laundry is the value of the next best alternative, which is reading for 4 pages, minus the value of the chosen alternative, which is doing a load of laundry. Thus, the opportunity cost is 4 pages - 2/3 of a page = 10/3 pages, which is approximately equal to 3.33 pages. Therefore, the correct answer is C, 2/3 of a page.

Exhibit 2-2 -According to Exhibit 2-2, Maria's Opportunity Cost of Doing a Cost