Your opportunity cost of choosing a particular activity
A)can be easily and accurately calculated
B)cannot even be estimated
C)does not change over time
D)varies, depending on time and circumstances
E)is measured by the money you spend on the activity

Question

Quizplus · Accepted Answer

Opportunity cost varies depending on time and circumstances. It is the value of the next best alternative that must be given up in order to pursue a certain activity, and this value can change depending on the situation. For example, the opportunity cost of going to a concert may be different for someone who has to work overtime to attend versus someone who has the night off.

Your Opportunity Cost of Choosing a Particular Activity